FHA Mortgage Insurance
FHA Mortgage Insurance

Every FHA borrower pays FHA mortgage insurance. FHA home loans have two types of mortgage insurance.

1. Up-front Mortgage Insurance Premium (“UMIP”)
2. Monthly Mortgage Insurance (“MI”)

Each FHA mortgage has both UMIP and MI.  The actual amount paid is dependent upon a borrower’s down payment and loan term.

Up-Front Mortgage Insurance Premium (UMIP)

The FHA Up-Front Mortgage Insurance Premium is a one time charge that is typically “financed” into a borrower’s loan amount.  The premium is calculated by multiplying the FHA base loan amount by the appropriate factor.  A homeowner can pay for the mortgage insurance premium out of pocket if they choose.

Monthly Mortgage Insurance (MI)

FHA Monthly Mortgage Insurance is calculated by multiplying the current FHA MI factor by the FHA loan amount.  Currently, FHA monthly mortgage insurance payments do not ever go away naturally.

Arizona FHA Resources

FHA Loan Overview
Property Requirements
FHA 203k
Escrow Holdback
Streamline Refinance

Contact The HOUSE Team today for more information on how FHA mortgage insurance works.

Team Phone:  602.435.2149
Team Email:  Team@JeremyHouse.com


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