Mortgage insurance premium refunds
We offer refundable and non-refundable premium plans. Each loan's insurance Commitment/Certificate specifies whether it is eligible for a mortgage insurance premium refund.
Premium refund guidelines
Refundable premium plans
| Premium Plan | Initial Insurance Effective Date | Refund Calculation |
| Annual Premium | Prior to July 29, 1999 | See our Annual Premium Refund Schedule |
| Annual Premium | On or after July 29, 1999 | Prorated refund – We calculate this refund based on the number of days of coverage in force divided by 365 days |
| Monthly Premium | N/A | Prorated refund – We calculate this refund based on the number of days of coverage in force divided by 30 days |
| Single Premium – Borrower-Paid | N/A | See our Single Premium Refund Schedules |
We will not provide a refund for any period more than 45 days prior to our receipt of the required mortgage insurance cancellation notice.
We will mail premium refund checks to you. For annual and single premiums less than $5, we will only provide a refund upon request.
Non-refundable premium plans
Our borrower-paid, non-refundable premium plans may be partially refundable if the borrower or lender terminated mortgage insurance under the Homeowners Protection Act (HPA). We base these refunds on our HPA refund schedules. Otherwise, premium under these plans is non-refundable.
Non-refundable Single Premium – HPA cancellation
Refer to the appropriate HPA refund schedule.
| Initial insurance effective date | Property state |
| July 29, 1999 – Sept. 8, 2013 | All states |
| Sept. 9, 2013 and after | All states except AK* |
| Sept. 9, 2013 and after | AK only |
*Note: This schedule's effective date was Dec. 17, 2013, for MD and July 15, 2014, for NY. Before these dates, the correct refund schedule for MD and NY is "July 29, 1999 – Sept. 8, 2013".
Refundable Single Premium – lender-requested cancellation
Refer to the appropriate 5-year refund schedule.
| Initial insurance effective date | Property state |
| April 30, 2001 and before | All states |
| May 1, 2001 – Aug. 1, 2004 | All states |
| Aug. 2, 2004 – Sept. 8, 2013 | All states |
| Sept. 9, 2013 and after | All states except AK |
| Sept. 9 2013 and after | AK only |
Refundable Annual Premium – lender-requested cancellation
Refer to the refund schedule or calculation, as appropriate.
| Initial insurance effective date | Property state |
| Prior to July 29, 1999 | All states |
July 29, 1999 and after We will provide a prorated refund based on the number of days insurance is in force divided by 365 days and then multiply the resulting percentage by the annual premium amount. | All states |
Refundable Monthly Premium
We will provide a prorated refund based on the number of days insurance is in force divided by 30 days and then multiply the resulting percentage by the monthly premium amount.
Request a refund
Go to MGIC/Link Servicing, our secure web platform for all of your servicing-related tasks.
Cancelling mortgage insurance
Learn how and when to cancel mortgage insurance coverage from MGIC.
MGIC Servicing Guide
Access the information you need to service your MI-insured loans, including guidelines, requirements, and submission options.