Choice Monthly Mortgage Insurance
Flexible upfront options to lower your borrowers' monthly payments.
Now you can leverage out-of-pocket funds, lender credits and seller concessions to lower your borrower’s monthly payment.
With Choice Monthly MI, your borrowers have the option to pay a portion of the premium up front or finance it into their loan.* And Choice Monthly allows for more customization than traditional premium plans, helping you close more loans, save deals and earn more referrals.
Choice Monthly resources
-
FAQs about Choice Monthly
Answers to common questions about the Choice Monthly premium plan.
-
-
Encompass® User Guide for Choice Monthly MI
A quick start guide for ordering Choice Monthly on Encompass.
-
MiQ™ User Guide for Choice Monthly MI
A quick start guide for quoting Choice Monthly on MiQ.
-
Loan Center User Guide for Choice Monthly MI
A quick start guide for ordering Choice Monthly in Loan Center.
-
Special Deal Code for Choice Monthly MI
Instructions to request quote or application from other LOS.
-
Mortgage insurance premium plans
Discover more about MGIC’s suite of affordable mortgage insurance solutions.
-
Technology solutions for easier ordering
Learn more about our technology partners and integrated loan origination systems (LOSs).
Choice Monthly FAQs
Answers to your Frequently Asked Questions about Borrower paid Choice Monthly Mortgage Insurance premium plan.
| Question | Answer |
|
What is Choice Monthly mortgage insurance (MI)? |
Borrower-paid Choice Monthly MI is MGIC’s flexible premium plan that lets lenders customize the borrower’s monthly payment by choosing an amount to pay up front to meet their unique needs. See our Choice Monthly resources for additional information. |
|
How can lenders use the flexibility of Choice Monthly MI? |
Choice monthly allows loan officers to:
Our Choice Monthly resources provide additional product details. |
|
Who is eligible? |
Choice Monthly MI is available to customers who use our risk-based pricing in MiQ, Encompass and other loan origination systems. |
|
How does Choice Monthly work to optimize my borrowers’ monthly payments? |
Choice Monthly MI’s unmatched flexibility allows for more customization than traditional premium plans, helping close more loans and earn more referrals.
Explore our Choice Monthly resources for other benefits and product information. |
|
How does Choice Monthly help lenders differentiate themselves with borrowers? |
Choice Monthly can help position lenders as trusted financial advisors by:
See our Choice Monthly resources for additional information. |
|
How does Choice Monthly help lenders close more loans? |
With more flexible upfront options than traditional premium plans, Choice Monthly MI helps loan officers position themselves as trusted financial advisors by keeping their borrowers’ interests top of mind.
Our Choice Monthly resources provide additional product details. |
|
How do customers quote or order Choice Monthly MI? |
Customers can access quotes through your LOS (loan origination system) or MiQ. Submit your loan application through your LOS or MGIC’s Loan Center. Use our online guide to learn more about MGIC’s Technology Partners. |
Encompass® is a registered trademark of ICE Mortgage Technology, Inc.
You might also like:
-
Get Started with MGIC
Not already an MGIC customer? We’ll get you up and quoting in no time!
-
Why Partner with MGIC?
Our customers have been counting on us as their go-to MI partner for over half a century.
-
Contact Customer Service
We’re ready and waiting to answer any questions you might have.