FHA Upfront Mortgage Insurance Premium Rates

The Upfront Mortgage Insurance Premium (UFMIP) is a fee that’s charged to the borrowers up front for all FHA purchase loans, cash-out refinances and rate-term refinances that aren’t streamline loans. Purchase and non-streamline refinance loans have Upfront MIP amounts of 1.75% of proposed loan amount and is added to the mortgage balance at closing.

• Purchase Loans, Cash-Out Refinance or Rate-Term Refinance
  • UFMIP Rate of 1.75% 
• FHA Streamline Refinance
  • Original FHA loan endorsed before 6-1-2009 – UFMIP Rate of 0.01%
  • Original FHA loan endorsed after 6-1-2009 – UFMIP Rate of 1.75%

FHA mortgage loans are a good choice for home buyers who don’t have a lot of cash on hand. The fees involved for FHA loans can be complicated to figure sometimes, however. Our FHA mortgage payment calculator can help you figure it all out. Don’t forget to calculate the following fees first:

• Upfront Mortgage Insurance Premium (MIP) –  The FHA UFMIP is 1.75% of the initial loan amount.  The MIP isn’t actually paid up front, though.  It’s actually added to total loan amount and paid though your payments.  FHA MIP Calculator
• Monthly Mortgage Insurance (MI) – FHA loans also require monthly mortgage insurance, which is figured based on and loan-to-value, mortgage length and total loan amount.  FHA Mortgage Insurance Calculator
• Property Taxes and Homeowners Insurance – Annual property taxes and hazard insurance are combined with the mortgage payments and paid monthly.   Be sure to get accurate estimates of your taxes and insurance so your estimated payment is not wrong.