MGIC MI: Make it an Option
Today, it's all about having options — especially in our changing mortgage market. Become an expert on MI Options and reap the benefits to you and your borrower.
Go over MI options with your borrowers. Compare them with other non-MI options using our Mortgage Options Calculator. In doing so, you'll all arrive at the same conclusion: the best option for your borrower.
MGIC MI Options
Each MGIC MI option below includes a description, benefits of that program to you and which borrowers it works well with. Use the comparison table for quick reference to MI option features.
| Characteristics | SingleFile | Monthly Premiums | One-Time MI | Split Premiums |
|---|---|---|---|---|
| Tax-Deductible | X | X | X | X |
| Refundable | X | |||
| Cancelable | X | X | X | |
| Low Monthly Payment | X | X | X | X |
| Financeable | X | X | ||
| No Borrower MI | X | |||
| No Monthly MI Payment | X | X |
MGIC MI Benefits
For you:
- structure high-LTV loans
- close more loans faster
- expand your role from originator to trusted adviser
- broaden your customer base
- provide options to determine the best deal for your borrower
- create follow-up opportunities to discuss home equity refinancing
For your borrower:
- buy a home sooner
- increase buying power
- broaden cash-flow options
- cancel coverage
Our Mortgage Options Calculator compares MI and non-MI options side-by-side.
Want to take it with you? Download an Excel version of the mortgage options calculator.