MIP Calculator
Business Background

MIP Calculator can be used to determine the upfront mortgage insurance premium (MIP) and annual MIP for loans assigned an FHA case number on or after July 14, 2008. MIP Calculator also provides the monthly (periodic) MIP amount for the first year of loan amortization based on the annual MIP. MIP Calculator is not used for Home Equity Conversion Mortgage (HECM) cases and cases under the following Sections of the National Housing Act: Section 223(e) - Declining Neighborhoods, Section 238(c) - Military Impact Areas in Georgia and New York, Section 247 - Hawaiian Homelands, and Section 248 - Indian Lands. Also, for streamline refinance cases, Refinance Authorization and Refinance Credit Query can be used instead of MIP Calculator.

MIP Calculator allows you to calculate the upfront and annual MIP factors for a new loan based on loan characteristics or look up the MIP factors for an existing loan that was processed through Insurance Application on the FHA Connection.

For cases assigned an FHA case number before July 14, 2008:

Use Case Query to get the upfront MIP factor for a non-endorsed or endorsed case.
For an endorsed case, you can request a Portfolio report containing both the upfront and annual MIP factors. Portfolio is located on the FHA Connection's Single Family Servicing, Monthly Premiums menu. FHA Connection authorization for this function is required.

You can access MIP Calculator through the following sequence of FHA Connection links: Single Family FHA, Single Family Origination, Case Processing, and MIP Calculator.

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MIP Calculator Business Background

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MIP Calculator
Business Background