Not being able to cancel your MIPs can be costly. For FHA loans with a down payment of 10% or more, you can cancel your monthly MIPs after 11 years. But if you have 10% to put down, why get an FHA.
Construction Loan Limitations . There are national construction lenders extending conforming construction loans throughout the country, only requires 5% down payment for a conventional construction loan. The borrower can use the equity on the land instead of.