Field Name

Definition/Description

How Paid

How the mortgage insurance will be paid. Select an option from the drop-down menu.

Premium/$1000

This information is auto-filled based on rates that are on record. The premium is the percentage of the mortgage.

Amount

The total amount that is used when calculating the premium percentage. The figure is determined by the mortgage lender.

MIP Financed

The amount of the mortgage insurance premium being financed.

VA Funding Fee

VA loan only. Amount paid by the buyer that contributes toward the cost of the benefit and thereby reduce the cost to taxpayers.

Use

VA loan only. Either first-time or subsequent use.

Military

VA loan only. Either regular or reserve/national guard.