Friday, February 21, 2014

Kentucky FHA Annual Mortgage Insurance for 2014

Kentucky FHA Annual Mortgage Insurance Most Recent Chart available.  This is effective for case numbers assigned on or after April 1, 2013

Term > 15 Years
Base Loan Amt.              LTV                  MIP
≤ $625,500               ≤ 95.00%                130 bps
≤ $625,500               > 95.00%                135 bps
> $625,500               ≤ 95.00%                150 bps
> $625,500               > 95.00%                155 bps
 
Term ≤ 15 Years
≤ $625,500         78.01% - 90.00%           45 bps
≤ $625,500               > 90.00%                 70 bps
> $625,500         78.01% - 90.00%           70 bps
> $625,500               > 90.00%                 95 bps
 
Term ≤ 15 Years
 Any Loan Amount    78%                    45bps  (for case numbers assigned after June 3, 2013)
 
UFMIP     1.75%
 
  • For all mortgage regardless of their amortization terms, any mortgage involving an original principal obligation (excluding financed Up-Front MIP (UFMIP)) less than or equal to 90 percent LTV, the annual MIP will be assessed until the end of the mortgage term or for the first 11 years of the mortgage term, whichever occurs first.
  • For any mortgage involving an original principal obligation (excluding financed UFMIP) with an LTV greater than 90 percent, FHA will assess the annual MIP until the end of the mortgage term or for the first 30 years of the term, whichever occurs first.