What is an MIP (Mortgage Insurance Premium)?

MIP (Mortgage Insurance Premium) and the HUD 223(f) Loan Program

An MIP, or Mortgage Insurance Premium, is an annual payment on a HUD mortgage, paid at closing, for each year of construction, and annually. MIP for HUD 223(f) loans is:

• 25 basis points for properties using a Green MIP Reduction 

• 65 basis points for market rate properties

• 45 basis points for Section 8 or new money LIHTC properties

• 70 basis points for Section 220 urban renewal projects that are not Section 8 or LIHTC

TO LEARN MORE ABOUT HUD 223F LOANS, FILL OUT THE FORM BELOW AND A HUD LENDING EXPERT WILL GET IN TOUCH.