What is upfront FHA MIP?
For most standard FHA forward mortgages, the upfront mortgage-insurance premium is currently 1.75% of the base loan amount. It may be financed or paid at closing, subject to the transaction rules.
What this actually means.
The upfront MIP is paid to HUD at closing. Financing it adds to the loan balance—that is why an FHA loan amount can be higher than the base amount after the down-payment calculation. Verify the current premium for your specific FHA transaction.
Where this can move.
Loan term, LTV at origination, HUD's published MIP schedule at the time of origination, and refinance options can change the long-term cost.
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Educational only. FHA guidelines, lender overlays, rates, fees, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with HUD, FHA, or any government agency.