I have an FHA mortgage that was tak

I have an FHA mortgage that was taken out in 2011 and my loan-to-value (LTV) ratio is now approximately 75 percent.

My FHA loan requires me to pay the monthly mortgage insurance premium (MIP) for a minimum of five years despite the fact that I am below the 78 percent LTV threshold needed to cancel the premium. Recently, I have considered taking out a home equity line of credit (HELOC) for home improvements, but I’m not sure if this new mortgage will impact the LTV and jeopardize the cancellation of MIP at the five-year mark. Any idea how this might work? I have about 11 months remaining before I get to the five-year mark.

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I have an FHA mortgage that was taken out in 2011th and My loan-to-Value (LTV) ratio is now approximately 75 percent. My FHA loan requires Me to pay the Monthly mortgage Insurance premium (MIP) for a Minimum of Five years Despite. the fact that I am below the 78 percent LTV threshold needed to cancel the premium. Recently, I have considered taking out a home equity line of credit (HELOC) for home improvements, but I'm not sure if this new mortgage will impact the LTV and jeopardize the cancellation of MIP at the five-year mark. Any idea how this might work? I have about 11 months remaining before I get to the five-year mark.