Skip to main content
  1. News
  2. Business & Finance
  3. Industry

FHA MIP Increase

See also

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.

Comments

Advertisement

News

  • Gaza conflict
    Israel official: Ceasefire and expanding Gaza conflict are both being discussed
    Video
    Video
  • Air Algerie crash
    Conflicting reports about the Air Algerie disappearance begin to emerge
    Top News
  • Arizona execution
    A Senator familiar with torture denounces Joseph Wood's botched execution as such
    US News
  • Ray Rice suspended
    Ravens' running back Ray Rice is suspended for two games for a domestic violence arrest
    Sports
  • Amazon tribe falls ill
    An Amazonian tribe catches influenza after making first contact with the developed world
    Headlines
  • CIA prison in Poland
    Poland is declared guilty of human rights violations for hosting a secret CIA prison
    Video
    Video