FHA Refi Crossroads glossary
Key terms
Crossroads answer
These terms come up when deciding how to end FHA mortgage insurance, each with a primary source. This is not a government website.
Last reviewed against the primary sources listed below.
- Case number assignment date
- The date HUD assigned your FHA case number, which sets which MIP rules apply. Source: HUD Mortgagee Letter 2023-05: Reduction of FHA annual mortgage insurance premium rates
- Annual MIP
- FHA's yearly mortgage insurance premium, paid monthly with the mortgage. Source: CFPB: FHA loans
- Life-of-loan MIP
- Annual premium that stays until the loan is paid off or refinanced. Source: HUD Mortgagee Letter 2023-05: Reduction of FHA annual mortgage insurance premium rates