Borrower-Paid Mortgage Insurance (BPMI)
Choice of plans & thousands in savings on LTVs up to 97%!1
PMI Super SingleSM
One-time, upfront payment – no monthly premium.
A good fit when the borrower:
- Plans to own the home long-term (5+ years)
- Wants to reduce their DTI ratio
- Can use a seller contribution to help pay the single premium2
Benefits:
- Flexible financing: one-time premium can be paid upfront or financed3
- MI premium may be tax-deductible based on borrower eligibility4
- Coverage remains in force until cancelled or terminated
Thousands in savings over FHA
Run your own loan scenarios on our PMI/FHA Calculator to see the savings!
Product
- PMI Super Single [view rates]
1 97% LTV — minimum 720 credit score, non-distressed markets only, owner-occupied. See PMI’s Underwriting Guidelines for complete details.
2 Seller contribution limits up to 3% or up to 6% are dependent on the property location and the buyer’s down payment.
3 When the premium is financed, the minimum down payment needs to be higher (but still only requires 3% of the borrower’s own funds). The combination of the loan amount and financed premium amount cannot exceed 97% LTV (maximum base loan amount is likely to be 94% LTV).
4 For eligible borrowers who are married, single or head-of-household. Based on borrower-paid premiums allocable to mortgage insurance certificates issued in 2007 – 2011.
5 Based on 720 credit score, $225,000 purchase price, 95% LTV for PMI and 96.5% LTV for FHA (FHA’s upfront premium is financed), 4.75% fixed-rate, 30-year loan, 30% coverage.
