24 CFR 203.260
§ 203.260 Amount of mortgage insurance premium (periodic MIP).
United States · 24 CFR — Housing and Urban Development · Status: effective
Cite this
- Citation
- 24 CFR 203.260, § 203.260 Amount of mortgage insurance premium (periodic MIP), United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/99522
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Full text
The mortgagee shall pay to the Commissioner an initial MIP in an amount equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the first year of amortization. After payment of the initial MIP, the mortgagee shall pay to the Commissioner an amount equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the 12-month period preceding each subsequent anniversary date of the beginning of amortization.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.