If a borrower has poor to moderate credit history, MMI probably is much less expensive with an FHA insured loan than with a conventional loan regardless of LTV - sometimes as little as one-ninth as much depending on the borrower's credit score, LTV, loan size, and approval status.
The FHA insurance payments include two parts: the upfront mortgage insurance premium (UFMIP) and the annual premium remitted on a monthly basis-the mutual mortgage insurance (MMI).