Our borrower-paid mortgage insurance (BPMI) single premium option may be a good choice for a borrower who wants to keep the monthly payment low by making one, upfront MI payment at closing or by financing it as part of the mortgage loan.
The BPMI single option is available as refundable or non-refundable. With refundable BPMI, a partial refund may occur depending on the amount of time the MI coverage was in place. Non-refundable BPMI may also result in a partial refund if it is canceled under the Homeowners Protection Act of 1998 (HPA). Read Removing PMI to learn more.