With the new FHA MIP rates becoming effective this week here is a look a back at where FHA MIP rates have been historically:
| Effective Date | Downpayment | Upfront MIP | Annual MIP |
| Prior to 7/14/2008 | 1.50% | 0.50% | |
| 7/14/2008 | 2.25% | 0.55% | |
| > 5% | 1.25%-2.25%* | .50%-.55%* | |
| 4/5/2010 | 2.25% | 0.55% | |
| > 5% | 2.25% | 0.50% | |
| 10/4/2010 | 1% | 0.90% | |
| > 5% | 1% | 0.85% | |
| 4/18/2011 | 1% | 1.15% | |
| > 5% | 1% | 1.10% | |
| 4/9/2012 | 1.75% | 1.25% / 1.50% for jumbo | |
| > 5% | 1.75% | 1.20% / 1.45% for jumbo | |
| 4/1/2013 | 1.75% | 1.35% / 1.55% for jumbo | |
| > 5% | 1.75% | 1.30% / 1.50% for jumbo | |
| * Dependent on FICO score | |||
The new rates effective 1/26/2015 is .85% for the monthlty premium for most low down FHA loans. June 2013 FHA changed its policy to keep the MI on for the life of the loan that still stands for most FHA loans. You can have the MIP reassessed if you put more money down:
Term
LTV %
Previous
New
No Annual MIP
11 years
> 78 - 90.00
Cancelled at 78% LTV
11 years
> 90.00
Cancelled at 78% LTV
Loan Term
> 15 yrs
5 years
11 years
> 15 yrs
>= 78 - 90.00
Cancelled at 78% LTV & 5 yrs
11 years
> 15 yrs
> 90.00
Cancelled at 78% LTV & 5 yrs
Loan Term
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