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Loans & assistance
Insurance that protects the LENDER when you put less down — you pay for it, and whether it ever falls off depends on the loan type.
Mortgage insurance exists to make low-down-payment lending possible: it protects the lender if the loan defaults, and it is the explicit price of not bringing 20%. It is not the same as homeowners insurance, which protects the home.
The removal rules are the part worth knowing before you choose a loan. Conventional PMI can be removed once your equity reaches the published thresholds (by law at certain points, on request at others). FHA's insurance follows different published rules — depending on your down payment, it can run for the life of the loan, which is a real long-term cost difference and a common reason buyers refinance later.
VA loans have no monthly mortgage insurance (there is a one-time funding fee, waived for some disabled veterans). This single difference is much of why VA is usually the first loan an eligible veteran should price.
Source: HUD/FHA Single Family Housing Policy Handbook 4000.1
Who confirms it for you: Your lender — removal rules for your specific loan appear in your loan documents.
Educational, not advice — and never an eligibility determination. Program rules and loan requirements change; the cited source and the named confirmer are the authorities for your case.