Definition: fee paid by FHA borrowers to obtain a loan (up front and annual)
Pronunciation: \ˈmȯr-gij\ \in-ˈshu̇r-ən(t)s\ \ˈprē-mē-əm\
Used in a Sentence: The MIP payment was calculated into our monthly mortgage payments.
⭐️⭐️⭐️⭐️⭐️ Over 4,500
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