APPENDIX 1.0 – MORTGAGE INSURANCE PREMIUMS Upfront ...
APPENDIX 1.0 ¨C MORTGAGE INSURANCE PREMIUMS
Upfront Mortgage Insurance Premium (UFMIP)
All mortgages: 175 basis points (bps) (1.75%) of the Base Loan Amount.
Exceptions:
? Streamline Refinance and Simple Refinance mortgages used to refinance a previous
FHA-endorsed mortgage on or before May 31, 2009
? Hawaiian Home Lands (Section 247)
? Indian Lands (Section 248)
Indian Lands (Section 248) do not require a UFMIP.
Annual Mortgage Insurance Premium (MIP)
Applies to all mortgages except:
? Streamline Refinance and Simple Refinance mortgages used to refinance a previous FHA
endorsed mortgage on or before May 31, 2009
? Hawaiian Home Lands (Section 247)
Hawaiian Home Lands (Section 247) do not require Annual MIP.
Mortgage Term of More Than 15 Years
Base Loan Amount
LTV
MIP (bps)
Duration
Less than or equal to
¡Ü 90.00%
80
11 years
$625,500
> 90.00% but ¡Ü 95.00%
80
Mortgage term
> 95.00%
85
Mortgage term
Greater than $625,500 ¡Ü 90.00%
100
11 years
> 90.00% but ¡Ü 95.00%
100
Mortgage term
> 95.00%
105
Mortgage term
Mortgage Term of Less than or Equal to 15 Years
Base Loan Amount
LTV
MIP (bps)
Duration
Less than or equal to
¡Ü 90.00%
45
11 years
$625,500
> 90.00%
70
Mortgage term
Greater than $625,500 ¡Ü 78.00%
45
11 years
> 78.00% but ¡Ü 90.00%
70
11 years
> 90.00%
95
Mortgage term
Streamline Refinance, Simple Refinance:
For refinance of previous mortgage endorsed on or before May 31, 2009
UFMIP: 1 (bps) (.01%) All mortgages
All Mortgage Terms
Base Loan Amount
LTV
Annual MIP (bps)
Duration
All
¡Ü 90.00%
55
11 years
> 90.00%
55
Mortgage term
For mortgages where FHA does not require an appraisal, the value from the previous mortgage
is used to calculate the LTV.
Hawaiian Home Lands Section 247
Hawaiian Home Lands Upfront MIP (UFMIP)
Loan Term in Years
¡Ü18
>18 and ¡Ü22
>22 and ¡Ü25
2.400%
3.000%
3.600%
2.344%
2.913%
3.475%
MIP Financed
MIP not
Financed
Annual MIP is not assessed on Section 247 mortgages.
>25
3.800%
3.661%
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