What is the FHA Mortgage Insurance Premium structure for forward mortgage loans?

In most FHA programs, an Upfront Mortgage Insurance Premium (UFMIP) is collected at loan closing; and an Annual Mortgage Insurance Premium (MIP) is collected in monthly installments. The FHA mortgage insurance premium is based upon the date that the FHA Case Number was assigned.

These Mortgage Insurance Premiums do not apply to:
  • Home Equity Conversion Mortgages (HECM)
  • Title I
  • Hawaiian Homelands (Section 247)
  • Indian Lands (Section 248)

UFMIP
Cases assigned on or after 04/09/12:
• Purchase/Refinance = 1.75% of the base loan amount
• Streamline Refinance = 1.75% of the base loan amount
Note: Cases assigned 06/11/12 or later:
Streamline Refinance of FHA loans endorsed on or before 05/31/09 = 0.01% UFMIP

ANNUAL MIP
Purchase/Refinance & Streamline Refinance
Cases assigned 06/11/12 or later:
Streamline Refinance of FHA loans endorsed on or before 05/31/09 = 0.55% MIP regardless of the Base Loan Amount or LTV.

Loan Term More Than 15 Years
Cases Assigned on or After 01/26/15
Base Loan Amount $625,500 or less
- LTV 95.01% or more = .85%
- LTV 95.00% or less = .80%
Base Loan Amount above $625,500
- LTV 95.01% or more = 1.05%
- LTV 95.00% or less = 1.00%

Cases Assigned 04/01/13 – 01/25/15
Base Loan Amount $625,500 or less
- LTV 95.01% or more = 1.35%
- LTV 95.00% or less = 1.30%
Base Loan Amount above $625,500
- LTV 95.01% or more = 1.55%
- LTV 95.00% or less = 1.50%

Loan Terms 15 Years or Less
Cases Assigned on or After 04/01/13
Base Loan Amount $625,500 or less
- LTV 90.01% or more = .70%
- LTV 78.01% to 90.00 % = .45%
Base Loan Amount above $625,500
- LTV 90.01% or more = .95%
- LTV 78.01% to 90.00 % = .70%

Cases Assigned 04/01/13 – 06/02/13
All Base Loan Amounts
- LTV 78.00% or less = 0.00%

Cases Assigned on or After 06/03/13
All Base Loan Amounts
- LTV 78.00% or less = .45%

NOTE: The reduction in Annual MIP set forth in ML 15-01 does not apply to:
• Streamline refinance of existing FHA loans that were endorsed on or before 05/31/09
• Section 247 (Hawaiian Homelands)

For additional information see Handbook 4000.1:II.A. Appendix 1.0 – Mortgage Insurance Premiums available at: https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-01679