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Products & Rates

National MI offers flexible Mortgage Insurance products offering options for borrowers that best fit their needs.

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National MI is excited to bring you the latest in risk-based pricing technology — Rate GPS®. National MI’s Rate GPS offers an innovative way to get very competitive rates for your borrowers.
Our risk-based pricing system uses risk intelligence to deliver rates based on individual loan characteristics. It’s a more granular way of pricing based on multiple factors specific to your borrower’s situation, and will help you gain more business from well-qualified homebuyers.

Click here for the Flyer, FAQ and User Guide:

Borrower-Paid Mortgage Insurance

  • Premiums paid by borrower
  • Mortgage Insurance disclosed to borrower as separate and distinct line item
  • Certain payment plans allow premium to be financed into loan amount1
  • May be cancellable by borrower under Homeowners Protection Act

Monthly Advantage Premium requires premiums to be remitted monthly to maintain coverage.  No initial premium is required at closing to activate coverage.


Download Traditional Rate Cards:

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NON-REFUNDABLE BORROWER-PAID SINGLE PREMIUM MI is a single, upfront payment at closing which provides the required coverage (until the loan amortizes to 78% LTV).  The amount can be financed into the loan amount1 , paid out of pocket, or via seller concession to achieve the lowest monthly mortgage payment.  No refund is provided unless cancellation is covered under the Homeowners Protection Act of 19982.


Download Traditional Rate Cards:

REFUNDABLE BORROWER-PAID SINGLE PREMIUM MI is a single, upfront payment at closing which provides the required coverage (until the loan amortizes to 78% LTV). The amount can be financed into the loan amount1 , paid out of pocket, or via seller concession to achieve the lowest monthly mortgage payment. In the event that coverage is cancelled, a refund may be provided per the Refundable Single Premium Refund Schedule, or cancellation may be covered under the Homeowners Protection Act of 19982.


Download Traditional Rate Cards:

Lender Paid Mortgage Insurance

  • Premiums are paid by lender
  • Mortgage Insurance specifics not disclosed to borrower2
  • Lender Paid premiums are non-refundable

LENDER-PAID SINGLE PREMIUM requires a single upfront payment to provide coverage for the life of the loan (until loan balance is paid in full).  Lender Paid Singles are non-refundable.  The Homeowners Protection Act of 1998 does not apply to Lender Paid mortgage insurance.


Download Traditional Rate Cards:

Lender-Paid Monthly is a coverage term of one month, with the first month’s premium required to activate coverage.  Renewal premiums are remitted monthly to maintain coverage.


Download Traditional Rate Cards:
  • Subject to investor LTV / CLTV guidelines
  • Lender may be required to provide some form of disclosure to borrower


Agency Coverage Requirements, Refund Schedules and Rate Cards

Agency Coverage Requirements
Base LTV Fannie Mae® Standard Coverage Freddie Mac® Standard Coverage HomeReady® and HomePossible® Coverage Housing Finance Agency (HFA) Charter Coverage
>20 years <=20 Years >20 Years <=20 Years >20 Years <=20 Years
95.01% to 97% 35% 35% 35% 35% 25% 25% 18%
90.01% to 95% 30 25 30 25 25 25 16
85.01% to 90% 25 12 25 12 25 12 12
85% and under 12 6 12 6 12 6 6

Agency Coverage Requirements

Base LTV
95.01% to 97%
Fannie Mae® Standard Coverage
>20 years
35%
<=20 Years
35%
Freddie Mac® Standard Coverage
>20 years
35%
<=20 Years
35%
HomeReady® and HomePossible® Coverage
>20 years
35%
<=20 Years
35%
Housing Finance agency (HFA) Charter coverage
18%
Base LTV
90.01% to 95%
Fannie Mae® Standard Coverage
>20 years
35%
<=20 Years
35%
Freddie Mac® Standard Coverage
>20 years
35%
<=20 Years
35%
HomeReady® and HomePossible® Coverage
>20 years
35%
<=20 Years
35%
Housing Finance agency (HFA) Charter coverage
16%
Base LTV
85.01% to 90%
Fannie Mae® Standard Coverage
>20 years
35%
<=20 Years
35%
Freddie Mac® Standard Coverage
>20 years
35%
<=20 Years
35%
HomeReady® and HomePossible® Coverage
>20 years
35%
<=20 Years
35%
Housing Finance agency (HFA) Charter coverage
12%
Base LTV
85% and under
Fannie Mae® Standard Coverage
>20 years
35%
<=20 Years
35%
Freddie Mac® Standard Coverage
>20 years
35%
<=20 Years
35%
HomeReady® and HomePossible® Coverage
>20 years
35%
<=20 Years
35%
Housing Finance agency (HFA) Charter coverage
6%

Fannie Mae and Freddie Mac are registered trademarks.
HomeReady is a registered trademark of Fannie Mae.
Home Possible is a registered trademark of Freddie Mac.
Refer to the respective Agency Seller Servicer guides for coverage requirements, coverage requirements are subject to change.
Please refer to your local HFA for details on coverage levels and program guidelines.

MI Premium Plan Comparison

Premium Plan Comparison Borrower Paid Monthly Borrower Paid Single Lender Paid Monthly Lender Paid Single
Lowest Monthly Mortgage Payment
•
No Monthly MI Payment for Borrowers
•
•
•
Flexible Payment Options1
•
Cancellable 2
•
•
Refundable2
•
Non-owner Occupied and Second Homes
•
•
•
•
Conforming and Non-Conforming Loan Amounts
•
•
•
•
Qualified Mortgage (QM) No Impact
•3
•
•
  • Amount may be financed into the loan amount or paid via seller concessions (subject to investor guidelines) or paid out of pocket.
  • Homeowners Protection Act of 1998 (HoPA) may allow borrowers to request cancellation of mortgage insurance based on the amount still owed vs. original property value, upon borrower’s cancellation request through their servicer. No refund is provided on Borrower-Paid Non-refundable Premium Plan unless cancellation is required by the HoPA of 1998.
  • Borrower-paid Monthly Advantage Plan.