HUD ANNOUNCES FY 2014 MORTGAGE INSURANCE PREMIUMS

Wednesday, September 25, 2013 - 7:00AM

The U.S. Department of Housing and Urban Development (HUD) today announced that the mortgage insurance premiums (MIPs) for Federal Housing Administration (FHA) multifamily, healthcare facilities and hospital mortgage insurance programs with commitments to be issued or reissued in fiscal year (FY) 2014 are the same as those in FY 2013. The notice also clarified that existing low-income housing tax credit (LIHTC) properties, housing with new LIHTC from a FY 2014-insured loan and other qualified affordable developments are eligible for the LIHTC MIPs. The upfront MIP amount charged for FHA mortgage insurance will be 50 basis points for affordable and market-rate properties. The notice is scheduled for publication in tomorrow’s Federal Register, and the FY 2014 MIPs are effective Oct. 1.

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