For FHA, if you pay 10% down payment for 15 year fixed rate before 4/18/11,
you need to 1% upfront MI only, no monthly MI. Now 1% upfront MI and 0.25%
annually MI is required. You always need to MI for 30 yr fixed rate.
Since the the Rate for FHA is better than Conventional loan, for the same
rate, 1% upfront MI can usually be paid by the lender.