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.
This entry was posted
on Thursday, December 11th, 2008 at 4:27 pm and is filed under FHA Commentary.
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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.
This entry was posted on Thursday, December 11th, 2008 at 4:27 pm and is filed under FHA Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.