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FHA Mortgage News and Updates
This change is likely to be quickly adopted by Secondary Market investors on a widespread basis.
FHA Upfront and Annual Mortgage Insurance Premium (MIP) Changes
Effective with case numbers assigned on or after October 4, 2010, FHA Upfront and Annual MIP will change as follows:
- Upfront MIP will be 1.00% on all mortgage terms
- Annual MIP will be 0.90% for LTVs greater than 95% for mortgage terms greater than 15 years
- Annual MIP will be 0.85% for LTVs less than or equal to 95% for mortgage terms greater than 15 years
- No change to Annual MIP for mortgage terms less than or equal to 15 years
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