Is out of pocket FHA Mortgage Insurance Premium tax deductible?

Posted on Aug 12, 2012 in FHA Information

Question by : What are the current credit score requirements for FHA mortgages?

Best answer:

Answer by Chris
It’s about 640 or higher

Give your answer to this question below!
HARP program now in easier reach for area's underwater homeowners
The Home Affordable Refinance Program to help underwater homeowners refinance into lower-rate mortgages — and thereby lower their payments and stay in their homes — has finally started to catch on in the Washington area. HARP's initial impact was …
For more informaiton please visit here…

Reports Show HARP Activity Is Up In 2012
… Services (NYSE: LPS) shows that while overall mortgage prepayment activity remains stable, drug despite historically low rates, visit this site the federal government's Home Affordable Refinance Program (HARP) has seen considerable activity since the beginning of 2012.
More informaiton please visit here…

Obama HARP 2.0 Refinance Program Provides Multi-Million Dollar Stimulus
The Home Affordable Refinance Program (HARP) is a streamline refinance program created to help responsible borrowers who have continued to make their mortgage payments, but may be unable to refinance over recent years due to a decline in their home …
If you would like more informaiton please visit here…

Question by Bobbie: Is out of pocket FHA Mortgage Insurance Premium tax deductible?
I understand that the FHA mortgage insurance premium is tax deductible if it’s incorporated into the loan amount (and paid throughout the life of the loan). But if you were to pay the FHA M.I.P. funding fee out-of- your own-pocket, information pills does this becomes non-deductible? If you can include a source with your answer I’d greatly appreciate it.

Best answer:

Answer by sassy2
It is deductible on your tax return for the year you paid. Same as the other closing costs. Go to

Add your own answer in the comments!

5avg.rating 14 votes.

One Comment

  1. MIP is potentially tax deductible for mortgage loans closed between January 1 and December 31, 2010. In all tax matter contact a tax professional.