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FHA Up Front Mortgage Insurance Premium (UFMIP)
Quick FHA Tip The FHA Up Front Mortage Insurance Premium must be 100% financed into the mortgage or paid up front in cash at closing. It cannot be partially financed. If the seller pays any portion of the Up Front MIP (capped at 6%), then the entire amount must be paid up front in cash. | Category: Mortgage Insights | |
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Tommy (NMLS #220122) is an active loan officer with AmCap Mortgage. You can also find Tommy on Twitter laying down the law in mortgages and other things that makes the wheels turn. |
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