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Qualified Mortgage Insurance Premium

Home Ownership by Country


What is 'Qualified Mortgage Insurance Premium'

Premium paid by homeowners on mortgage insurance for FHA loans that can be deducted in the same manner as home mortgage interest. Qualified mortgage-insurance premiums can be deducted in addition to allowable mortgage interest for up to three years. In order to qualify, the mortgage must have been originated after 2006.

Explaining 'Qualified Mortgage Insurance Premium'

The amount you can deduct is reduced by 10% for every $1,000 ($500 if your filing status is married filing separately) by which your adjusted gross income exceeds $100,000 ($50,000 if your filing status is married filing separately).


Further Reading


Mortgage default insurance: credit enhancement for homeownershipMortgage default insurance: credit enhancement for homeownership
search.proquest.com [PDF]
… HKMC has qualified a total of five reinsur- ers—three domestic and two US—based … Home loans in Israel normally are price-level adjusted mortgages (PLAMs), with outstanding balances periodically … and more to lenders' desire to reduce capital costs by selling mortgage assets …

The effect of interest rates on home buying: Evidence from a discontinuity in mortgage insurance premiumsThe effect of interest rates on home buying: Evidence from a discontinuity in mortgage insurance premiums
papers.ssrn.com [PDF]
… HKMC has qualified a total of five reinsur- ers—three domestic and two US—based … Home loans in Israel normally are price-level adjusted mortgages (PLAMs), with outstanding balances periodically … and more to lenders' desire to reduce capital costs by selling mortgage assets …

Exporting mortgage insurance beyond the United StatesExporting mortgage insurance beyond the United States
search.proquest.com [PDF]
… HKMC has qualified a total of five reinsur- ers—three domestic and two US—based … Home loans in Israel normally are price-level adjusted mortgages (PLAMs), with outstanding balances periodically … and more to lenders' desire to reduce capital costs by selling mortgage assets …

The feasibility and functioning of public mortgage insurance models: an international comparisonThe feasibility and functioning of public mortgage insurance models: an international comparison
dspace.mit.edu [PDF]
… HKMC has qualified a total of five reinsur- ers—three domestic and two US—based … Home loans in Israel normally are price-level adjusted mortgages (PLAMs), with outstanding balances periodically … and more to lenders' desire to reduce capital costs by selling mortgage assets …

Temporary Loan Limits as a Natural Experiment in FHA InsuranceTemporary Loan Limits as a Natural Experiment in FHA Insurance
papers.ssrn.com [PDF]
… HKMC has qualified a total of five reinsur- ers—three domestic and two US—based … Home loans in Israel normally are price-level adjusted mortgages (PLAMs), with outstanding balances periodically … and more to lenders' desire to reduce capital costs by selling mortgage assets …

Determinants of FHA mortgage insurance in urban neighborhoodsDeterminants of FHA mortgage insurance in urban neighborhoods
heinonline.org [PDF]
… HKMC has qualified a total of five reinsur- ers—three domestic and two US—based … Home loans in Israel normally are price-level adjusted mortgages (PLAMs), with outstanding balances periodically … and more to lenders' desire to reduce capital costs by selling mortgage assets …

How mortgage finance reform could affect housingHow mortgage finance reform could affect housing
www.aeaweb.org [PDF]
… HKMC has qualified a total of five reinsur- ers—three domestic and two US—based … Home loans in Israel normally are price-level adjusted mortgages (PLAMs), with outstanding balances periodically … and more to lenders' desire to reduce capital costs by selling mortgage assets …

Risk structures and the distribution of benefits within the FHA Home Mortgage Insurance ProgramRisk structures and the distribution of benefits within the FHA Home Mortgage Insurance Program
www.jstor.org [PDF]
… HKMC has qualified a total of five reinsur- ers—three domestic and two US—based … Home loans in Israel normally are price-level adjusted mortgages (PLAMs), with outstanding balances periodically … and more to lenders' desire to reduce capital costs by selling mortgage assets …



Q&A About Qualified Mortgage Insurance Premium


When does this deduction begin and end?

This deduction begins when the loan was originated after 26 and ends at the close of tax year 2018.

Who qualifies for this deduction?

Anyone who has a qualifying loan may qualify for this deduction.

How much can you deduct with qualified mortgage insurance premiums?

You can deduct up to three years worth of qualified mortgage insurance premiums.

What is qualified mortgage insurance premium?

Qualified mortgage insurance premium is the amount paid by homeowners on mortgage insurance for FHA loans that can be deducted in the same manner as home mortgage interest.

Is there a limit to how much you can deduct with qualified mortgage insurance premiums?

Yes, your deduction will be reduced by one dollar for every dollar above 1, (5 if your filing status is married filing separately) of your adjusted gross income.