General Mortgage KnowledgeQuestion 151 of 400
On an FHA loan, the upfront mortgage insurance premium (UFMIP) is most often handled how?
a.Waived for first-time buyers
b.Paid by the seller only
c.Financed into the loan amount
d.Paid to the appraiser
Explanation
FHA borrowers commonly finance the UFMIP by adding it to the base loan amount, though it can be paid in cash. It is not automatically waived, seller-only, or paid to the appraiser.
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