Premium Plans and Products

The lack of funds for a down payment is the greatest barrier to homeownership for many Members. CMG MI has developed premium plans and mortgage insurance products that can help Members to purchase homes with little or no down payment, as well as refinance an existing mortgage.

CMG Single Premium Plan

Premium may be financed into the loan amount at closing. Interest on entire loan balance may be tax deductible*. Excellent alternative to "Piggyback" (or 80-10-10) product.

Monthly Plan

Members pay a monthly premium, rather than the higher up-front cost of an annual plan. The first payment is due at closing.

EZ Monthly Plan

Premiums paid on a monthly basis. Requires no payment at closing; members make their first monthly premium payment when their first mortgage payment is due.

Standard Annual Plan

Initial premium for one-year term paid at closing with renewal premiums paid annually thereafter. Premiums may be financed into the loan.

Level Annual Plan

Members pay initial premium up-front and renewal premium annually. Initial and renewal premium rates are equal.

CU Competitive Edge

An innovative lender-paid mortgage insurance product that allows borrowers with a low down payment to eliminate the need to add a second mortgage on top of a first mortgage, maximizing tax-deductibility and lowering closing costs.

HLPR Discount Program

The Home Loan Payment Relief (HLPR) program created by the Credit Union National Association (CUNA) helps low- and moderate-income Members achieve homeownership through below-market ARMs and fixed-rate mortgages. CMG MI supports Credit Unions that participate in HLPR through discounted mortgage insurance rates.** The HLPR Discount Program is now available on e-cmgmi.

Click here to see rates. Click here for a flyer on the HLPR Discount Program.

Please note: Program may not be available in all states.

GO MI for Portable Mortgages

Reach out to young marrieds, military personnel, relocating professionals and others who want to take their rate with them. GO MI insures portable mortgages so you can make your Member’s move easier.

Community Heroes

Qualify firefighters, police officers, health professionals, teachers and military personnel with Community Heroes. Reduced MI coverage requirements can help open doors.

*Members are advised to consult their tax advisors.

For more information, contact your CMG MI Account Executive, or call CMG Mortgage Insurance Company at (800) 909-4264.