Split-Premium Mortgage Insurance provides borrowers the option of paying a part of the MI premium up front in order to reduce the monthly MI premium along with their mortgage payment.

• Different upfront options from 1% - 2%
• The initial premium may be financed.
• The initial premium may be SELLER or BUILDER paid.
• Program accepts scores as low as 620.
• Reduces monthly payments for buyers as much as possible.

Example: A client buys a home for $250,000 and puts 10% down, seller has agreed to pay 1% of mortgage insurance.  Seller pays $2250 at closing, buyer's monthly mortgage insurance is $33.75 per month, as compared to the buyer absorbing the full mortgage insurance payment of $116.25 per month. 

Jennifer Keenan
757-272-4199
jkeenan@tidewaterhomefunding.com