FHA mortgage lenders provide refunds for any unused up-front mortgage insurance premiums, also known as UFMIPs. Depending on your FHA loan amount, mortgage lender other details, you could be entitled to $1000s of dollars!
If you find that you are owed an FHA mortgage insurance refund, you can follow a simple claim process to get it. The U.S. Department of Housing and Urban Development (HUD) oversees the claim procedure and processes all requests for those who qualify for mortgage refunds.
To get your FHA insurance refund, you will need to prove your identity. HUD wants to make sure that you are the rightful owner of the money, so you typically must provide evidence and documents supporting your case. HUD will not release any money without first verifying identities.
Claiming your FHA home loan refund starts with submitting a refund request to HUD. The agency processes requests in the order it receives them, so the sooner, the better!
Wondering how to get your money? Claiming your FHA refund can be broken down into a simple, three-step process:
- Gather supporting documents.
- Submit a claim
- Get your money.
HUD holds all FHA mortgage insurance refunds until borrowers can prove their identity. Because of this, you will need to start gathering a few documents that verify your identity. It helps to have the documents easily accessible when requesting your refund, as you will need to send them to HUD for review.
You may need to submit one or more of the following documents to prove your identity as well as verify your address:
- Social Security card
- Driver’s license or state-issued identification
- Birth certificate (original – no copies)
- Bank statements
- Utility bills
- Valid vehicle registration
Once you have all the necessary documents, it’s time to submit a claim for your refund. HUD has a support line you can call to initiate the refund request. The Mortgage Insurance Premium Refund Support Service Center handles these calls and can answer any questions you may have regarding the refund process.
An FHA loan representative will guide you through the process and request certain documents. You can upload your documents online, by email or by fax.
Once HUD has all your documents, it will begin to process your refund. The length of time it takes to process your request varies. Typically, you will receive a check in the mail to your current address for the refund within a few weeks of submitting the refund request.