A fee paid by a borrower for mortgage insurance. Fee's are generally paid to a private insurer or FHA insurer.

is the fee which is paid by a borrower for mortgage insurance.

Depending on the amount of your down payment, you may be required to pay a fee for mortgage insurance (which protects the lender against loss due to foreclosure). You may also be required to place funds into a special reserve account ( called an impound account) for MI, which will be held by the lender.

The fees paid by a FHA borrower for mortgage insurance. Typically for mortgage loans with a down payment of less than 20 percent.

Mortgage insurance on an FHA insured loan. Unlike conventional loans it is required regardless of the loan-to-value .

It is insurance from HUD which protects the lender should there be a default under the terms of the mortgage.

The fee paid by a borrower for mortgage insurance. Fee's are generally paid to the FHA or private insurer.

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% of the purchase price.

The payment made by a borrower to the lender for transmittal to HUD to help defray the mortgage insurance program and to provide a reserve fund to protect lenders against loss in insured mortgage transactions. Mortgage insurance is required on loan with a loan to value greater than 80% of the appraised value of the home.

This term specifically refers to mortgage insurance required by FHA which insures the lender in case the borrower defaults.

The fee that a borrower pays to a lender for mortgage insurance. This premium can be in the form of an up-front fee, monthly and/or annual payments.

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

Required on all FHA loans to meet operating expenses and provide loss reserved.

A fee for mortgage insurance coverage, often on FHA loans.

(Also known as mutual mortgage insurance premium). A one-time mortgage insurance required for FHA loans.

The consideration paid by a mortgagor (borrower) for mortgage insurance - either to the FHA or to a private mortgage insurer.

One-half percent borrowers pay each month on fha insured mortgage loans. It is insurance from fha to the lender against incurring a loss on account of the borrower's default. On september 1, 1983, the mip was changed to a one-time charge to the borrowers.

Mortgage insurance insures the lender against loss in case of default by the borrower. Mortgage insurance is provided to the lender by CMHC or GEMICO and the premium is paid by the borrower.

Paid on government-insured loans (FHA or VA loans) regardless of your loan-to-value. Should you pay off a government-insured loan in advance of maturity, you may be entitled to a small refund of MIP. Please note that such insurance is not a form of life insurance that pays off the loan in case of death.

The consideration paid by a mortgagor for mortgage insurance either to FHA or a private mortgage insurance (PIM) company. On and FHA loan, the payment is 1/2 of 1 percent annually on the declining balance of the mortgage.

The amount paid by a mortgagor for the mortgage guaranty insurance either to the FHA or a private mortgage guaranty insurance company.

An fee that is often included in mortgage payments that pays for mortgage insurance coverage.

Mortgage insurance insures the lender against loss in case of default by the borrower. The premium is paid by the borrower over the life of the mortgage and added to the mortgage payments.

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 borower's default on a loan.

a one time amount paid by a mortgagor for mortgage insurance either to FHA or a private mortgage insurance company.

The amount the borrower is required by the lender to pay for mortgage insurance. It helps protect the lender in cases of default. It is required by lenders when the down payment is less than 20% (or some other specified percentage) for conventional loans and for all FHA loans. The premium is paid periodically either to a private mortgage insurance company or to the FHA which insures residential mortgage loans. Currently FHA insured mortgages require a payment that represents an annual rate of one- half of one percent paid by the mortgagor on a monthly basis. The payment is normally a portion of the mortgage payment that is set aside in the escrow account.

The up-front insurance premium you must pay if you get an FHA loan. The insurance helps cover the cost of reselling your home if you default on the loan.

MIP is paid by the borrower as additional insurance that the lender will be covered against a foreclosure. Mortgage Insurance premiums are required on some loans such as FHA loans. Lenders assess whether mortgage insurance is necessary for a particular loan based on a borrower’s qualifications associated with that loan.

The amount paid by a mortgagor for mortgage insurance to FHA. (Also see PMI)

An up-front and/or monthly fee charged to the buyer on FHA loans to insure the lender against loss due to foreclosure.

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 to FHA or to a private company for mortgage insurance.

A premium that is added to the mortgage and paid by the borrower over the life of the mortgage. The mortgage insurance insures the lender against loss in case of default by the borrower.

The up-front and/or annual charges that the borrower pays for mortgage insurance. There are different mortgage insurance plans with differing combinations of monthly, annual and up-front premiums.

The upfront payment of 1.5% of the loan amount paid by the borrower to the lender for transmittal to HUD to help defray the cost of the FHA mortgage insurance program and to provide a reserve fund to protect lenders against loss in insured mortgage transactions. Also in FHA insured mortgages an annual rate of one-half of one percent is paid by the mortgagor on a monthly basis.

Payment for an FHA or private mortgage insurance policy; can be paid in cash at closing or included in monthly payments. Bmortgage pool See mortgage-backed securities.

a payment that must be made to secure a government loan guarantee on your reverse mortgage. The insurance premium guarantees that if the company managing your account - commonly called the loan "servicer" - goes out of business, the government will step in and make sure you have continued access to your loan funds. Furthermore, the MIP guarantees that you will never owe more than the value of your home when the HECM reverse mortgage must be repaid.

The 0.5 percent borrowers pay each month on FHA-insured mortgage loans. It is insurance from the FHA to the lender against incurring a loss on account of the borrower's default.

The consideration paid by a mortgagor for mortgage insurance either to FHA or a private mortgage insurance (PMI) company. On an FHA loan, the payment is one-half of one-percent annually on the declining balance of the mortgage. It is a part of the regular monthly payment and is used by FHA to meet operating expenses and provide loss reserves.

The payment made by a borrower to the lender that is transferred to HUD. This premium, an annual rate of one-half of one percent, is used to help defray the cost of the FHA mortgage insurance program and to provide a reserve fund to protect lenders against loss in insured mortgage transactions. Required for loans with a loan above 80.01%. Mortgage Note The contract to repay a loan. The contract is secured by a mortgage, serves as proof of the debt, and states how it will be paid. The note states the actual amount of the debt that the mortgage secures and renders the mortgagor personally responsible for repayment.

Fee for private or government mortgage insurance which protects the lender against default and enables the lender to make a loan which the lender considers a higher risk.

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

A premium which is charged as a percentage of the mortgage. The mortgage insurance insures the lender against loss in case of default by the borrower.

The cost of the insurance provided to lenders by the Federal Housing Administration (FHA), which is paid by the individual homebuyer. MIP is made up of two parts: an up-front cost of 1.5% of the mortgage amount, plus an annual premium of 0.5% of the loan amount to be paid on a monthly basis. Mortgage insurance helps to protect lenders from losses in the event of a mortgage default and foreclosure. The annual MIP may be canceled when the mortgage amount is reduced to 78% or less of the property value (also known as 22% or more of home equity value).

is insurance provided by a private company to protect the mortgage lender against default. Generally, this insurance is required by the lender when the down payment is less than 20% of the property value. The lender requires the borrower to pay the insurance premiums. With a conventional loan this is referred to as private mortgage insurance (PMI).

the cost of the mortgage insurance which is included as part of the mortgage payment

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

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.

An insurance fee paid by the borrower either to a government agency or to a private mortgage insurance company to protect the lender against default.

A cost to home buyers to insure the mortgage lender in case of default. Usually required on loans where less than 20% down payments are used.

the cost of mortgage insurance. Lenders frequently require the borrower to pay, at settlement, the first year's mortgage insurance premium or an advance lump sum premium that covers the entire life of the loan.

The payment made by a borrower for a policy which protects the lender in the vent of default. In the case of Conventional mortgages, premiums are paid to the Private Mortgage Insurance (PMI) carrier which insured the loan. In the case of Government loans, the premiums are paid to HUD in the case of FHA loans and to the Veterans Administration in the case of VA loans.

An insurance premium home buyers pay on FHA loans to protect the lender against default. Includes an "upfront" premium which may be financed and a monthly premium collected in the payment.

The amount the FHA charges up front when they insure a loan under of their programs.

An FHA loan requirement. A mortgage insurance policy paid by the buyer which insures that lenders making FHA loans will be covered against foreclosure up to the guaaranteed amount.

An insurance fee required on certain loan programs. This fee is collected up front as a one-time premium at closing and there are monthly payments.

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

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.

An insurance premium paid by the borrower on a policy that promises to pay out the amount owing in the event that the borrower defaults. back