🏥HUD Eliminates Green MIP for Healthcare Facilities
Elimination of Green and Energy Efficient Mortgage Insurance Premium Rate Category Applicable to Section 232 Mortgages
Summary
On May 19, 2022, HUD proposed MIP reductions to achieve green and energy-efficiency buildings for FHA-insured loans on properties under specific Office of Healthcare insurance programs (the 2022 notice). This notice eliminates the Green and Energy Efficient MIP category for Healthcare Facilities, and all projects will be subject to the rate that had been previously established through Federal Register notice for such FHA-insured loans.
Agencies
- Housing and Urban Development Department
Business Impact
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The content eliminates a type of Mortgage Insurance Premium (MIP) rate for FHA-insured loans on healthcare facilities, impacting borrowing costs for business owners in healthcare. Without the green initiative benefit, financial planning for future construction or renovations may need to adjust to the newly established rates.