Borrower-paid monthly premiums

BPMI monthly rate cards

Coverage	Coverage is provided through the date MI is cancelled
Premium Due at Closing	Borrowers pay $0 at closing with MGIC’s Monthly/ZOMP! option
Payment Terms	Borrowers pay monthly as part of their mortgage payment MGIC bills lender for premium due
Cancellable?	Coverage can be cancelled: Based on investor requirements OR Under the Homeowners Protection Act of 1998 (HPA)
Refundable?	A refundable option is available with a slight premium adjustment; refunds are prorated If coverage is cancelled or terminated under the HPA, unearned premium is refunded

MGIC’s borrower-paid Monthly MI premiums are MGIC’s most widely used option, serving the broadest audience.

When monthly premiums are cancelled, the monthly mortgage payment is reduced by the amount of the MI premium.