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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 22 - Foreign Relations |
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Chapter II - Agency for International Development |
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Part 235 - Hashemite Kingdom of Jordan Loan Guarantees Issued Under the Further Continuing Appropriations Act, 2014, Div. F, Pub. L. 113-6 - Standard Terms and Conditions |
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Subpart B - Contract Rights and Obligations - Homes for Lower Income Families |
§ 235.204 - Amount of annual MIP.
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(a) With respect to mortgages approved for insurance under this part prior to January 5, 1976, after payment of the initial MIP an annual MIP shall be paid in an amount equal to one-half percent of the average outstanding principal obligation for the 12-month period preceding the date on which the premium becomes payable, without taking into account delinquent payments or prepayments.
(b) With respect to mortgages approved for insurance under this part on and after January 5, 1976, after payment of the initial MIP an annual MIP shall be paid in an amount equal to seven-tenths of one percent of the average outstanding principal obligation for the 12-month period preceding the date on which the premium becomes payable, without taking into account delinquent payments or prepayments.