Can the upfront MIP for FHA be rolled into principal?

FHA upfront MIP (Mortgage Insurance Premium) is almost always rolled into your loan amount. It can be paid cash at closing by you, or the seller. But if seller paid, it can not exceed 6% total, which would include any other seller paid costs too...

Yes it can be rolled into the loan. Not into the principal.

The upfront MIP is rolled into the loan as its financed on top of your base loan amount. Base loan amount would be 96.5% of the purchase price and total loan amount is base loan amount plus the Upfront MIP. Have you looked into conventional conforming loans (Fannie Mae/Freddie Mac)? In most cases, Fannie Mae/Freddie Mac conforming loans are much cheaper in terms of extra costs versus FHA loans. Please feel free to contact me if you would like assistance in comparing your loan options.

hi there: yes the upfront MIP can be rolled into mortgage loan principal amount unless rules have changed. Lending Nationwide (NMLS 754875) Mike 703 505 5300..let us know how we may earn your business.

The upfront MIP on FHA loans is usually rolled into the loan amount. You may choose to pay the upfront MIP but more often than not, most don't. Odds are you will probably only be in this home or loan for no more than 3-5 years so the payment difference is minimal compared to how much it would cost to pay out of pocket upfront. Also remember, if you refinance a portion of that upfront MI may also be given back to you.

No, but you can pay it with Cash or it can be paid by through a Seller Closing Cost Credit if you are purchasing real estate and you designate this amount to be paid through closing, thereby the origination of your file will not increase your loan amount to have this financed in.