It's been that way for a few years, if you make under 100k. That was why the 80/20 loans with NO PMI were so attractive.
Though I close FHA loans, with the FHA 1.75% Financed MIP Fee ($5,200 on a 300k loan amount in basically Gov. Points), plus the monthly MI payment, FHA is actually a very costly loan.
But itâ€™s the only tool in the toolbox for many. But most have options they are never educated about.
Loan options at: http://www.pro-option.com