New FHA MIP Chart for Kentucky FHA loans for refinances and purchase loans effective January 26,2015.jpg)
Loan Purpose
|
Up-Front MI Premium
|
Endorsement Date of Current
FHA-insured Mortgage |
| Purchase, Rate/Term Non-Streamline Refinance, Cash Out Refinance |
1.75%
|
N/A
|
| Streamline Refinance |
1.75%
|
Endorsed on or after 06/01/2009
|
| Streamline Refinance |
0.01%
|
Endorsed prior to 06/01/2009
|
For Loan Terms > 15 years
| ||||
Loan Purpose
|
Base Loan Amount
|
LTV
|
Case Number Assigned on or After01/26/2015
|
Case Number Assigned6/03/2013–01/25/2015
|
| Purchase, Rate/Term, Cash-Out, or Streamline Refinance Endorsed on or after 06/01/2009 |
<=$625,500
|
<=95%
|
.80
|
1.30
|
<=$625,500
|
>95%
|
.85
|
1.35
| |
> $625,500
|
<=95%
|
1.00
|
1.50
| |
> $625,500
|
>95%
|
1.05
|
1.50
| |
| FHA Streamline endorsed prior to 06/01/2009 |
All Loan Amounts
|
All LTVs
|
0.55
| |
For Loan Terms <=15 Years
| |||
Loan Purpose
|
Base Loan Amount
|
LTV
|
Case Number Assigned
on and after 6/03/2013 |
| Purchase, Rate/Term, Cash-Out, or Streamline Refinance Endorsed on or after 06/01/2009 |
<=$625,500
|
<=90%
|
0.45
|
<=$625,500
|
>90%
|
0.70
| |
> $625,500
|
<=90%
|
0.70
| |
> $625,500
|
>90%
|
0.95
| |
| FHA Streamline endorsed prior to 06/01/2009 | |||
The length of time on which you'll pay mortgage insurance premiums on your FHA loan is as follows:
Mortgage Term
|
Loan to Value Ratio
|
Length of Mortgage Premium
|
|---|---|---|
15 years or shorter
|
Up to 90%
|
11 years
|
15 years or shorter
|
Greater than 90%
|
Full loan term
|
Greater than 15 years
|
Up to 90%
|
11 years
|
Greater than 15 years
|
Greater than 90%
|
Full loan term
|
Source: HUD.gov.
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