not, those individuals creating a smooth refinance into the an FHA loan that has been recommended prior to , is actually exempted out of this structure
How-to Determine brand new MIP
All FHA borrowers need to pay step one.75% of your full amount borrowed when you look at the UFMIP (that have one to difference; on which less than). It has to be paid within closure, but it is funded when needed. It means this new UFMIP could well be integrated about loan amount, together with debtor shouldn’t have to give the cash to your closing table.
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