source:
  type: guide
  id: hud-4000-1-ii-8-programs-and-products-condominiums
  authority: FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs
    and Products - Condominiums (04/10/2025)
  description: FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs
    and Products - Condominiums (04/10/2025).
  coverage_tier: operative
obligations:
- id: hud-4000-1-ii-8-programs-and-products-condominiums-full
  canonical_id: hud-4000-1-ii-8-programs-and-products-condominiums-full
  section: FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs
    and Products - Condominiums (04/10/2025)
  type: do
  tags:
  - regulator-direct
  - fha
  - hud-handbook
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: FHA Single Family Housing Policy Handbook 4000.1, Part II — 8. Programs
      and Products - Condominiums (04/10/2025)
    source_class: hud-handbook
    source_url: https://www.hud.gov/hud-partners/single-family-handbook-4000-1
    snapshot_id: 8c03836f77f317e1
    fetched_at: '2026-05-23T00:28:40Z'
    content_hash: sha256:411430f29b13f9b54a2ebb0e6f6e7087ecd2b90d0da22eb0c8c792eaa2d7d0df
    paragraph_quote: '8. Programs and Products - Condominiums (04/10/2025) Handbook
      4000.1 752 Last Revised: 11/26/2025 If IMIP paid on the existing HECM is greater
      than the new IMIP due, there will be no refunds. No additional credit is given
      for the IMIP paid on the last HECM transaction. (C) Calculation of Monthly Mortgage
      Insurance Premium Mortgagees must use the formula of one-twelfth of 0.50 percent
      multiplied by the outstanding mortgage balance to calculate the monthly Mortgage
      Insurance Premium (MIP). The amount of the annual MIP will begin to accrue on
      the outstanding mortgage balance from the day after the expiration of the rescission
      period.'
  judgment: false
