PAGE TITLE HERE
FHA NEW MIP INFORMATION EFFECTIVE OCT 4, 2010
Effective for FHA case numbers ordered on or after October 4, 2010,
UFMIP will be reduced to 1.0% of the loan amount and the annual
premium will increase to .90
FHA charges Two mortgage insurance premiums on each FHA loan;
Up Front Mortgage Insurance Premium (UFMIP)
and monthly mortgage Insurance (MMI)
FHA Upfront Mortgage Insurance Premiums (UFMIP)
UFMIP is paid once and is typically added to the loan amount. Below
are the premiums:
Purchase Money and Qualifying Refinances = 1.00 Percent.
Streamline Refinances (all types) =1.00Percent
Monthly Mortgage Insurance Premium (MIP)
An annual premium, shown below, paid monthly, will also be charged
based on the initial Loan to Value and length of the mortgage
according to the following schedule:
30 Year Loans MIP
Less than 95% Loan To Value 0.85%
LTV >=95% Loan to Value 0.90%
15 Year Loans MIP
Less than 95% Loan to Value None
LTV >=95% 0.25%
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
 |