Single Premium
Up-Front Payment or Financed into the Loan
With single premium, the borrower can pay for mortgage insurance with a single payment
at closing. An option called single financed premium means the MI is financed as a portion of the loan
amount. This option offers tax advantages, and may provide significant monthly savings. With
single-premium MI, when the borrower cancels the MI or sells the home, any unused portion of the premium
is refunded.
- No MI payment is due at closing with single financed premium
- A low monthly payment
- Possibility of qualifying for a larger loan, thanks to the lower payment
- A larger loan amount could mean a bigger tax deduction
- Premium is partially refundable when the home is sold or refinanced ahead of term
- Possibly a lower monthly payment than with an 80-10-10 option
View Radian's rate refund calculator to calculate the percentage of
premium refunded, as well as the refund amount of short-rate cancellation.
View Single Premium rates and guidelines.
Calculate premium refunds.
How does Single Premium compare to other types of MI or piggyback loans?
View the comparison chart or calculate Single Premium vs. other payment options.
More questions? Contact our MI professionals.
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