New FHA Risk Premium

The FHA UFMIP - Up Front Mortgage Insurance Premiums have changed, may surprise a lot of borrowers with a low down payment & credit score. The new Annual MIP will be from 0.50% to 0.55%. The highest UFMIP will be at 2.25%, and pay 0.55% in the Annual MIP. 1st time home buyers with FHA approved counseling will only have to pay 2.00% for the UFMIP.

Make sure to read about the New FHA Risk based Premium