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FHA fees, FHA mortgages have 2 fees that borrowers need to be aware of

1)Upfront Mortgage Fee, FHA mortgages require a Mortgage Insurance fee in the amount of    .5% per year of the loan amount and divided up into 12 equal payments throughout the year.

2) Mortgage Insurance Premium, FHA charges an upfront (MIP) mortgage insurance premium of 1.5%. The mortgage insurance premium applies to the home buying programs. An up front premium of 1.50% of the loan amount is paid at closing and can be financed into the mortgage amount and paid at closing.

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