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HUD 223(f) FAQs
Last updated on Sep 22, 2022
1 min read

MIP: Mortgage Insurance Premiums in Relation to HUD 223f Loans

Before being approved for a HUD Multifamily loan, a borrower must have mortgage insurance. HUD-requires borrowers to pay MIP (Mortgage Insurance Premium) on FHA loans. This insurance policy is not to be confused with PIM (private mortgage insurance) which is required on some conventional mortgage lo

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In this article:
  1. HUD 223f Loans and Mortgage Insurance Premiums (MIPs)
  2. How HUD 223(f) Borrowers Pay MIP 
  3. To learn more about HUD 223f loans, fill out the form below and a HUD lending expert will get in touch. 
  4. Get Financing

HUD 223f Loans and Mortgage Insurance Premiums (MIPs)

Before being approved for HUD Multifamily loans, like the HUD 223(f) loan, a borrower must have mortgage insurance. HUD-requires borrowers to pay MIP (Mortgage Insurance Premium) on FHA loans. This insurance policy is not to be confused with PMI (private mortgage insurance) which is required on some conventional mortgage loans.

How HUD 223(f) Borrowers Pay MIP 

MIP is paid both as a one-time cost and as an annual payment:

  • One-time MIP: 1% of the total loan amount, paid at closing as the first year’s MIP.

  • Annual MIP: Each following year, the MIP is 0.60% of the loan amount. Affordable properties receive an adjusted rate of 0.45%, while properties with a Green MIP reduction receive discounted rate of 0.25%. Interest rates on these payments range between 4.10% and 4.75% (with MIP included).

To learn more about HUD 223f loans, fill out the form below and a HUD lending expert will get in touch. 

In this article:
  1. HUD 223f Loans and Mortgage Insurance Premiums (MIPs)
  2. How HUD 223(f) Borrowers Pay MIP 
  3. To learn more about HUD 223f loans, fill out the form below and a HUD lending expert will get in touch. 
  4. Get Financing
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  • HUD Multifamily Financing
  • RAD

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