Mortgage Insurance Premium

# The fee paid by a borrower to FHA or a private insurer for mortgage insurance.

# a monthly payment -usually part of the mortgage payment - paid by a borrower for mortgage insurance.

# The payment made by a borrower to the lender for transmittal to HUD. These payments help defray the cost of the FHA mortgage insurance program and provide a reserve fund to protect lenders against loss in insured mortgage transactions. In FHA insured mortgages, this represents an annual rate of one-half of 1 percent paid by the borrower on a monthly basis.

# The amount paid by a mortgagor for mortgage insurance, either to a government agency such as the Federal Housing Administration (FHA) or to a private mortgage insurance (MI) company.

# Insurance purchased by borrower to insure against default on government (FHA or VA) loans.

# Insurance from FHA to the lender against incurring a loss on account of the borrower's default.

# The charge paid by the borrower to cover the cost of a mortgage insurance policy under an FI-L4 insured mortgage. The insurance policy provides protection for all or a certain percentage of the loan amount to the lender in case of default by the borrower. Historically the premium was paid each month as part of the mortgage payment; but, in recent years it has been paid either in cash at closing or financed and repaid as part of the total amount borrowed. Back to top -- View Real Estate Listings

# The mortgage insurance required on FHA loans for the life of said loans; MIP can either be paid in cash at closing or financed in its entirety in the loan. The premium varies depending on the method of payment.

# The consideration paid by a mortgagor for mortgage insurance either to FHA or a private mortgage insurance (PMI) company. This insurance protects the investor from possible loss in the event of a borrower's default on a loan.

# Money paid by the borrower in an FHA loan and used to insure the loan.

# Mortgage insurance protects the lender from loss due to payment default by the borrower. With this insurance protection, the lender is willing to make a larger loan, thus reducing downpayment requirements. This type of insurance should not be confused with mortgage life, credit life or disability insurance designed to pay off a mortgage in the event of physical disability or death of the borrower. ...

# ): Payment made to HUD on an FHA loan. These monies provide a reserve fund to protect the lenders against loss. Paid monthly, and calculated as, .5% multiplied by the loan amount and divided by 12-months.

# A charge paid by the borrower (usually as part of the closing costs) to obtain financing, especially when making a down payment of less than 20 percent of the purchase price, for example on an FHA-insured loan.

# The premium paid by a borrower either to FHA (FHA/VA loans) or to a private company for non-government insured loans.

# FHA insures lenders against loss on FHA loans. The premium can be paid up front or financed as part of the loan.

# The insurance issued by a government agency such as the FHA

# A contract that guarantees the lender against loss caused by the mortgagor's default on a government or conventional loan.