If you are refinancing your FHA mortgage, and have had the mortgage for 3 years or less, you may be entitled to a partial refund of the up-front mortgage insurance premium you paid when you obtained the mortgage.
The refund will appear as a credit to you at closing, so it will not give you money in your pocket, but will help lower your overall closing costs.
FHA Mortgage Insurance Refund Tables
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The refund is calculated based on the following schedule:
For mortgages closed on or after Dec 8, 2004:
|
| Year |
|
|
|
| 1 | 2 | 3 | Month | 1 | 80 | 56 | 32 |
| 2 | 78 | 54 | 30 |
| 3 | 76 | 52 | 28 |
| 4 | 74 | 50 | 26 |
| 5 | 72 | 48 | 24 |
| 6 | 70 | 46 | 22 |
| 7 | 68 | 44 | 20 |
| 8 | 66 | 42 | 18 |
| 9 | 64 | 40 | 16 |
| 10 | 62 | 38 | 14 |
| 11 | 60 | 36 | 12 |
| 12 | 58 | 34 | 10 |
For mortgages closed on or after January 1, 2001:
MIP Refund Factors | Year 1 | Year 2 | Year 3 | Month 1 | 0.9750 | Month 13 | 0.7333 | Month 25 | 0.5333 | Month 2 | 0.9500 | Month 14 | 0.7167 | Month 26 | 0.5167 | Month 3 | 0.9250 | Month 15 | 0.7000 | Month 27 | 0.5000 | Month 4 | 0.9000 | Month 16 | 0.6833 | Month 28 | 0.4833 | Month 5 | 0.8750 | Month 17 | 0.6667 | Month 29 | 0.4667 | Month 6 | 0.8500 | Month 18 | 0.6500 | Month 30 | 0.4500 | Month 7 | 0.8333 | Month 19 | 0.6333 | Month 31 | 0.4333 | Month 8 | 0.8167 | Month 20 | 0.6167 | Month 32 | 0.4167 | Month 9 | 0.8000 | Month 21 | 0.6000 | Month 33 | 0.4000 | Month 10 | 0.7833 | Month 22 | 0.5833 | Month 34 | 0.3833 | Month 11 | 0.7667 | Month 23 | 0.5667 | Month 35 | 0.3667 | Month 12 | 0.7500 | Month 24 | 0.5500 | Month 36 | 0.3500 | Year 4 | Year 5 |
|
| Month 37 | 0.3333 | Month 49 | 0.1625 |
|
| Month 38 | 0.3167 | Month 50 | 0.1500 |
|
| Month 39 | 0.3000 | Month 51 | 0.1375 |
|
| Month 40 | 0.2833 | Month 52 | 0.1250 |
|
| Month 41 | 0.2677 | Month 53 | 0.1125 |
|
| Month 42 | 0.2500 | Month 54 | 0.1000 |
|
| Month 43 | 0.2375 | Month 55 | 0.0833 |
|
| Month 44 | 0.2250 | Month 56 | 0.0667 |
|
| Month 45 | 0.2125 | Month 57 | 0.0500 |
|
| Month 46 | 0.2000 | Month 58 | 0.0333 |
|
| Month 47 | 0.1875 | Month 59 | 0.0167 |
|
| Month 48 | 0.1750 | Month 60 | 0.0000 |
|
|
For mortgages closed after September 1, 1983 and before January 1, 2001:
MIP Refund Factors | Year 1 | Year 3 | Year 5 | Month 1 | 0.9917 | Month 25 | 0.7835 | Month 49 | 0.3720 | Month 2 | 0.9833 | Month 26 | 0.7670 | Month 50 | 0.3580 | Month 3 | 0.9750 | Month 27 | 0.7505 | Month 51 | 0.3440 | Month 4 | 0.9667 | Month 28 | 0.7340 | Month 52 | 0.3300 | Month 5 | 0.9583 | Month 29 | 0.7175 | Month 53 | 0.3160 | Month 6 | 0.9500 | Month 30 | 0.7010 | Month 54 | 0.3020 | Month 7 | 0.9417 | Month 31 | 0.6845 | Month 55 | 0.2880 | Month 8 | 0.9333 | Month 32 | 0.6680 | Month 56 | 0.2740 | Month 9 | 0.9250 | Month 33 | 0.6515 | Month 57 | 0.2600 | Month 10 | 0.9167 | Month 34 | 0.6350 | Month 58 | 0.2460 | Month 11 | 0.9083 | Month 35 | 0.6185 | Month 59 | 0.2320 | Month 12 | 0.9000 | Month 36 | 0.6020 | Month 60 | 0.2180 | Year 2 | Year 4 | Year 6 | Month 13 | 0.8917 | Month 37 | 0.5840 | Month 61 | 0.2068 | Month 14 | 0.8833 | Month 38 | 0.5660 | Month 62 | 0.1957 | Month 15 | 0.8750 | Month 39 | 0.5480 | Month 63 | 0.1845 | Month 16 | 0.8667 | Month 40 | 0.5300 | Month 64 | 0.1733 | Month 17 | 0.8583 | Month 41 | 0.5120 | Month 65 | 0.1622 | Month 18 | 0.8500 | Month 42 | 0.4940 | Month 66 | 0.1510 | Month 19 | 0.8417 | Month 43 | 0.4760 | Month 67 | 0.1398 | Month 20 | 0.8333 | Month 44 | 0.4580 | Month 68 | 0.1287 | Month 21 | 0.8250 | Month 45 | 0.4400 | Month 69 | 0.1175 | Month 22 | 0.8167 | Month 46 | 0.4220 | Month 70 | 0.1063 | Month 23 | 0.8083 | Month 47 | 0.4040 | Month 71 | 0.0952 | Month 24 | 0.8000 | Month 48 | 0.3860 | Month 72 | 0.0840 | Year 7 |
|
|
|
| Month 73 | 0.0770 |
|
|
|
| Month 74 | 0.0700 |
|
|
|
| Month 75 | 0.0630 |
|
|
|
| Month 76 | 0.0560 |
|
|
|
| Month 77 | 0.0490 |
|
|
|
| Month 78 | 0.420 |
|
|
|
| Month 79 | 0.0350 |
|
|
|
| Month 80 | 0.0280 |
|
|
|
| Month 81 | 0.0210 |
|
|
|
| Month 82 | 0.0140 |
|
|
|
| Month 83 | 0.0070 |
|
|
|
| Month 84 | 0.0000 |
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