FHA mortgage insurance is required for all FHA loans. The insurance protects lenders from borrowers who default on their loans. However, it also requires borrowers to pay a premium, which can add to the cost of their loan. If you want to get rid of your FHA mortgage insurance, you’ll need to refinance to a conventional loan. You’ll need a credit score of 620 and 20% equity in your home to qualify. While this may seem like a high bar to clear, it’s actually easier than it sounds. There are several ways to improve your credit score, and there are many programs to help you come up with the down payment.