FHA Mortgage Insurance Premiums
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Sunday, February 19, 2017

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FHA Mortgage Insurance Premiums

FHA Mortgage Insurance includes both upfront and annual mortgage insurance premiums (paid monthly).

posted by: Ryan Martinson NMLS# 175574 Write for us

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The most current FHA mortgage insurance premium update can be found here.

Recently, one of the more common questions asked relates to FHA Mortgage Insurance. The table below outlines both upfront and annual premiums and the rates associated with various terms and down payments.

Effective January 26, 2015

Upfront MIP is 1.75% of the Base Loan Amount - All Loans

Loan Terms Greater than 15 Years
Loan Amount LTV Annual Rate
<= $625,500 > 95% 0.85%
<= $625,500 <= 95% 0.80%
> $625,500 > 95% 1.05%
> $625,500 <= 95% 1.00%

Loan Terms 15 Years or Less
Loan Amount LTV Annual Rate
<= $625,500 > 90% 0.70%
<= $625,500 78.01% - 90% 0.45%
> $625,500 > 90% 0.95%
> $625,500 78.01% - 90% 0.70%
> $625,500 < 78% 0.45%

To calculate the monthly FHA PMI multiply your base loan amount by the annual rate and divide by 12.

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Example: $100,000 base loan X 1.35% = $1,350 per year. $1,350 / 12 = $112.50 per month. This is the FHA PMI amount included in your FHA monthly payment.

*Every effort is made to post valid, up to date information. Mortgage guidelines and programs constantly change. Therefore, the content of each post should be viewed and used as a starting point. Please contact us for current guidelines pertaining to this post or for more information.

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*All calculations on www.WhatsMyPayment.com are for demonstration purposes only.
Every effort is made to maintain accurate calculations for each program listed. Actual numbers may vary.

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