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FHA MIP Increase

Chart of Mortgage Insurance Premiums
Chart of Mortgage Insurance Premiums
Department of Housing and Urban Development

The FHA Monthly Mortgage Insurance Premium increases on all applicable loans beginning with casefile ID numbers issued on or after April 18, 2011. The increase from .9% on loans higher than 95% loan to value will represent about a $35 monthly increase in cost of ownership on loan amounts with a $180,000 pre-UFMIP (Upfront Mortgage Insurance Premium) added in. The addition of the UFMIP of 1% brings the financed amount to $181,800.

Borrowers should still be able to qualify for the loan unless their debt-to-income ratio is already marginal due to other expenses and their level of income. Increases are also impacting other FHA loans (see the chart) but does not affect conventional loans.