Upfront Mortgage Insurance Premium (UFMIP)
UFMIP is an upfront mortgage insurance premium required for most FHA single-family mortgage insurance programs. The premium is remitted shortly after closing and is part of FHA's mortgage insurance framework.
- Where it applies
- Federal
- When it comes up
- Closing; post-closing remittance
- Property types
- Residential (FHA-insured)
In practice
In operational pipelines, UFMIP is a closing deliverable and cash-flow item that affects cash-to-close and post-closing reconciliation.
Related terms
FHAmortgage insurance premiumannual MIP (concept)FHA Connection
Residential Financing
- Accrual Rate
- Adjustable Rate Mortgage (ARM)
- Amortization
- Application (TRID application)
- Conforming Loan Limit
- Pay Rate
- PMI Automatic Termination
- PMI Cancellation (Borrower-Requested)
- Private Mortgage Insurance (PMI)
- Secured Overnight Financing Rate (SOFR)
General information, not legal, tax or financial advice.