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MGIC MI Solutions
One-Time MI

A one-time premium paid up front by the borrower. The mortgage insurance is cancelable, refundable and may even be financed into the loan.

With One-Time MI you can:

  • Increase commission by getting paid on 1 higher loan amount
  • Simplify processes with 1 loan – 1 set of guidelines and 1 set of docs
  • Receive improved underwriting decisions
  • Offer borrowers 1 low monthly payment
  • Provide borrowers a one-loan tax-deductible solution
  • Help borrowers receive a refund if canceled within the first 5 years

Which borrowers should consider the One-Time MI option?

  • Ideal for the borrower who wants the lowest possible monthly payment and has cash to use at closing or is willing to finance the premium in the loan amount.
  • Great in a buyer’s market where the builder or seller may be willing to pay all or part of the MI premium at closing, lowering the borrower’s monthly payment.
  • An excellent tool for the borrower who anticipates rapid home appreciation. By canceling MI within the first five years, the borrower may be refunded a portion of the premium.

Check MGIC Eligibility Guideline Summary

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Our MI Options Calculator compares MI and non-MI options side-by-side.