BORROWER PAID MI
Monthly Premium MI/Zero Monthly Premium MI
Monthly Premium is a payment option that features
a coverage term of one month; premiums are remitted monthly.
Zero Monthly features monthly premium rates with no initial premium required
Single Premium MI
Single Premium MI is paid with a single payment at closing or is financed into the
mortgage loan. It is partially refundable if the MI cancels within five years.
Level Annual Premium MI
Level Annual Premium MI features an annual premium with one identical rate for the
first year premium and renewal premiums; the first year premium may be financed
into the loan amount.
Split Premium MI
Split Premium MI features an up-front premium that can be financed into the loan
or paid by other approved sources of lending funds, much like an FHA loan.
Mortgage Insurance discussed in this website is underwritten by either Genworth
Mortgage Insurance Corporation, Genworth Residential Mortgage Insurance Corporation
of North Carolina or Genworth Residential Mortgage Assurance Corporation.