Mortgage insurance rate cards

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Borrower-paid mortgage insurance rate cards

Choose borrower-paid mortgage insurance (BPMI) rates based on property location.

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BPMI Monthly Premiums

National* – except AK, GU, NY, PR & WA

National* – AK, NY & WA

Guam

Puerto Rico

*View state-by-state activation dates

Program highlights

Coverage	We provide coverage through the mortgage insurance cancellation date.
Premium Due at Closing	Borrowers pay $0 at closing.
Payment Terms	Borrowers pay monthly as part of their mortgage payment We bill lender for premium due
Cancellable?	Borrowers can request cancellation: Based on investor requirements Under the Homeowners Protection Act of 1998 (HPA) Lenders must automatically cancel the mortgage insurance policy under HPA terms Once we've cancelled the mortgage insurance policy, the borrower's monthly mortgage payment is reduced by the monthly premium amount.
Refundable?	We provide a refundable options with a slight premium adjustment and prorate refunds If coverage is cancelled or terminated under the HPA, unearned premium is refunded

BPMI Single Premiums

National*, non-refundable only ‐ except AK, GU, NY, PR & WA

National*, non-refundable only ‐ AK

Guam, non-refundable only

New York, non-refundable only

Puerto Rico, non-refundable only

Washington, refundable & non-refundable

National, refundable only ‐ except PR & WA

Refundable Single premiums are not available in Puerto Rico

*View state-by-state activation dates

Program highlights

Coverage	Unless we cancelled coverage previously at the lender's request, we provide coverage until scheduled amortization reaches 78% of original value. Coverage continues for loans in default on that date until the loan is brought current.
Premium Due at Closing	Borrowers can pay the one-time, single payment at closing or finance it into the loan amount A third party, such as a builder or a seller, can pay the one-time, single payment at closing
Cancellable?	Borrowers can request cancellation: Based on investor requirements OR Under the Homeowners Protection Act of 1998 (HPA) Lenders must automatically cancel the mortgage insurance policy under the terms of the Homeowners Protection Act of 1998 (HPA)
Refundable?	When we cancel a policy based on HPA requirements, we base refunds for refundable and non-refundable single premiums on our HPA refund schedules For refundable single premiums, if coverage is cancelled during the first 5 years for reasons other than HPA requirements, we will provide a prorated refund. See Refund schedules

BPMI Split Premiums

National, all upfront options ‐ all states except GU, NY, PR, WA

New York

Washington

Split premiums are not available in Guam and Puerto Rico

Program highlights

MGIC's Split Premiums give your borrowers the option of paying part of the MI premium up front in order to reduce the monthly MI premium paid along with their mortgage payment. Borrowers can choose the initial premium rate, which is a percentage of the loan amount.

Coverage	We provide coverage through the mortgage insurance cancellation date.
Premium Due at Closing	Borrowers can pay the upfront premium at closing or finance it into their loan amount A third party, such as a builder or a seller, can pay the the up-front premium at closing
Payment terms	Borrowers pay the remaining monthly premium as part of their mortgage payment We bill lender for premium due
Cancellable?	Borrowers can request cancellation: Based on investor requirements OR Under the Homeowners Protection Act of 1998 (HPA) Lenders must automatically cancel the mortgage insurance policy under the terms of the Homeowners Protection Act of 1998 (HPA) Once we've cancelled the mortgage insurance policy, the borrower's monthly mortgage payment is reduced by the monthly premium amount.
Refundable?	Split premiums are non-refundable, unless coverage is cancelled or terminated under the HPA; then we base the refund on our HPA refund schedules.

Lender-paid mortgage insurance rate cards

Choose lender-paid mortgage insurance (LPMI) rates based on lender location.

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LPMI Single Premiums

National – all states except GU & PR

Guam

Lender-paid premiums are not available in Puerto Rico

Program highlights

Lenders can recoup the cost of the single premium by building it into the loan interest rate or the origination fee. This provides your borrowers with additional tax deductibility because of the increased interest rate. A third party, such as a builder or a seller, may also pay the origination fees.

Coverage	We provide coverage for the life of the loan.
Premium Due at Closing	The lender or anyone other than the borrower pay a one-time, single payment at closing The lender cannot charge the premium separately to the borrower
Refundable?	LPMI Singles are non-refundable.

LPMI Monthly Premiums

For LPMI Monthly premiums, except GU and PR, see the adjustments table on the Borrower-Paid Monthly Premium card.

Guam

Lender-paid premiums are not available in Puerto Rico

Program highlights

Coverage	We provide coverage for as long as the lender continues to pay the mortgage insurance premium.
Premium Due at Closing	We require no premium at closing We bill the lender the first full month after closing; payment is due the following month and continues until the lender cancels insurance The lender or anyone other than the borrowers must pay the premium; the lender must not charge the borrowers separately for premium
Refundable?	LPMI Monthlies are non-refundable.