FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs and Products - Condominiums (04/10/2025)

hud-4000-1-ii-8-programs-and-products-condominiums

FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs and Products - Condominiums (04/10/2025).

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  authority: FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs and Products - Condominiums (04/10/2025)
  description: FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs and Products - Condominiums (04/10/2025).
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      paragraph_quote: '8. Programs and Products - Condominiums (04/10/2025) Handbook 4000.1 752 Last Revised: 11/26/2025 If IMIP paid on the existing HECM is greater than the new IMIP due, there will be no refunds. No additional credit is given for the IMIP paid on the last HECM transaction. (C) Calculation of Monthly Mortgage Insurance Premium Mortgagees must use the formula of one-twelfth of 0.50 percent multiplied by the outstanding mortgage balance to calculate the monthly Mortgage Insurance Premium (MIP). The amount of the annual MIP will begin to accrue on the outstanding mortgage balance from the day after the expiration of the rescission period.'

Verbatim regulatory text (1)

Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs and Products - Condominiums (04/10/2025) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs and Products - Condominiums (04/10/2025)

8. Programs and Products - Condominiums (04/10/2025) Handbook 4000.1 752 Last Revised: 11/26/2025 If IMIP paid on the existing HECM is greater than the new IMIP due, there will be no refunds. No additional credit is given for the IMIP paid on the last HECM transaction. (C) Calculation of Monthly Mortgage Insurance Premium Mortgagees must use the formula of one-twelfth of 0.50 percent multiplied by the outstanding mortgage balance to calculate the monthly Mortgage Insurance Premium (MIP). The amount of the annual MIP will begin to accrue on the outstanding mortgage balance from the day after the expiration of the rescission period.

Source: FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs and Products - Condominiums (04/10/2025) · source URL · snapshot 8c03836f77f317e1