FHA MIP is the monies that a homeowner pays to the Federal Housing Administration as part of the FHA mortgage program. fha mortgage insurance premiums are in two phases – upfront at closing, and.
· The FHA upfront mortgage insurance that you pay is different than the annual mortgage insurance you will pay for the life of the FHA loan. The annual premium is similar to PMI on a conventional loan – you pay it on a monthly basis with your mortgage payment.
The following chart shows the FHA MIP rates that are current in 2019:. Current mortgage rates for April 24, 2019 are still near their historic lows. Compare 30-year, 15-year fixed rates, and ARMs to find the best home loan offer all in one place at LendingTree.