Mortgage insurance is a policy that protects lenders against losses that result from defaults on home mortgages.
Current Up-Front Mortgage Insurance Premium
The UPMIP is currently at 1.75% of the base loan amount. This applies regardless of the amortization term or LTV ratio.
Currently Monthly FHA Mortgage Insurance
For loans with FHA case numbers assigned on or after June 3, 2013, FHA will collect the annual MIP as per the chart below: