In addition to the UFMIP (up-front mortgage insurance premium), the owner-occupant borrower who decides to use an FHA mortgage loan will normally pay an additional annual mortgage insurance premium (MIP) that depends on the loan-to-value ratio and the term of the loan. As of 2019, the MIP ranged from ____________ percentage of the average annual loan balance?

0.25% to 0.35%

0.90% to 1.10%

1.15% to 1.25%

0.40% to 0.85%