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• A monthly payment -usually part of the mortgage payment - paid by a borrower for mortgage insurance.

  US Department of Housing and Urban Development - Cite This Source - This Definition
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  Cite Definition for Mortgage Insurance Premium (MIP)

  American Psychological Association (APA)

  Mortgage Insurance Premium (MIP). (n.d.). Homes & Communities Glossary. Retrieved March 21, 2023, from website: http://www.expertglossary.com/definition/mortgage-insurance-premium-mip.

  Chicago Manual of Style (CMS)

  Mortgage Insurance Premium (MIP). www.hud.gov. Homes & Communities Glossary. US Department of Housing and Urban Development. http://www.expertglossary.com/definition/mortgage-insurance-premium-mip (accessed: March 21, 2023).

  Modern Language Association (MLA)

  "Mortgage Insurance Premium (MIP)." Homes & Communities Glossary. US Department of Housing and Urban Development. 21 March. 2023 http://www.expertglossary.com/definition/mortgage-insurance-premium-mip.

• The amount paid by a borrower for mortgage insurance, either to a government agency such as the Federal Housing Administration (FHA) or to a private mortgage insurance (PMI) company.

  Federal Trade Commission - Cite This Source - This Definition
  ×

  Cite Definition for Mortgage Insurance Premium (MIP)

  American Psychological Association (APA)

  Mortgage Insurance Premium (MIP). (n.d.). Real Estate Marketplace Glossary. Retrieved March 21, 2023, from website: http://www.expertglossary.com/definition/mortgage-insurance-premium-mip.

  Chicago Manual of Style (CMS)

  Mortgage Insurance Premium (MIP). www.ftc.gov. Real Estate Marketplace Glossary. Federal Trade Commission. http://www.expertglossary.com/definition/mortgage-insurance-premium-mip (accessed: March 21, 2023).

  Modern Language Association (MLA)

  "Mortgage Insurance Premium (MIP)." Real Estate Marketplace Glossary. Federal Trade Commission. 21 March. 2023 http://www.expertglossary.com/definition/mortgage-insurance-premium-mip.

• Browse Related Terms: 203(b), Federal Housing Administration (FHA), FHA, Insured mortgage, Mortgage Insurance, Mortgage Insurance (MI), Mortgage insurance company, Mortgage Insurance Premium (MIP), PMI, Private mortgage insurance, Private Mortgage Insurance (PMI)