HUD Announces Multifamily MIPs to Remain Unchanged in FY-15

HUD has issued a notices announcing that the mortgage insurance premiums for FHA’s Multifamily, Health Care Facilities and Hospital mortgage insurance programs that have commitments to be issued or reissued in FY-15 will remain the same as in FY-14.  Multifamily programs covered by the notice include:

  • 207 Multifamily Housing New Construction/Sub Rehab without LIHTC: 70 bps
  • 207 Multifamily Housing New Construction/Sub Rehab with LIHTC: 45 bps
  • 207 Manufactured Home Parks without LIHTC: 70 bps
  • 207 Manufactured Home Parks with LIHTC: 45 bps
  • 221(d)(3) New Construction/Substantial Rehabilitation(NC/SR) for Nonprofit/Cooperative mortgagor without LIHTC: N/A
  • 221(d)(3) Limited dividend with LIHTC: 45 bps
  • 221(d)(4) NC/SR without LIHTC: 65 bps
  • 221(d)(4) NC/SR with LIHTC: 45 bps
  • 220 Urban Renewal Housing without LIHTC: 70 bps
  • 220 Urban Renewal Housing with LIHTC: 45 bps
  • 213 Cooperative: 70 bps
  • 207/223(f) Refinance or Purchase for Apartments without LIHTC: 60* bps
  • 207/223(f) Refinance or Purchase for Apartments with LIHTC: 45* bps
  • 223(a)(7) Refinance of Apartments without LIHTC: 50** bps
  • 223(a)(7) Refinance of Apartments with LIHTC: 45**
  • 223d Operating Loss Loan for Apartments: N/A
  • 231 Elderly Housing without LIHTC: 70 bps
  • 231 Elderly Housing with LIHTC: 45 bps
  • 241(a) Supplemental Loans for Apartments/coop without LIHTC: 95 bps
  • 241(a) Supplemental Loans for Apartments/coop with LIHTC: 45 bps

* The first-year or upfront MIP fee for loans insured under Section 223(f) for Multifamily, Health Care Facilities, and Hospital programs is 100 basis (one percent) points. The annual MIP amounts are otherwise shown above for the respective Section 223(f) programs.

** The first-year or upfront MIP fee for loans under Section 223(a)(7) for Multifamily, Health Care Facilities, and Hospital programs is 50 basis points. The annual MIP amounts are otherwise shown above for the respective Section 223(a)(7) programs.

Click here to view the full premium schedule.