Free After Five®
Automatic MI Payment Cancellation After Five Years, Exclusively from Radian
With Free After Five, borrowers receive automatic termination of their MI
premium after five years, provided they have maintained a good payment history, at no additional cost!
This innovative product, exclusively from Radian, allows lenders to close more loans by
offering borrowers a new way to purchase a home sooner.
The monthly MI premiums automatically cancel after five years,
however, coverage continues until the borrower reaches 78% LTV.
With Free After Five, lenders:
- Differentiate themselves in the marketplace by offering an innovative product
- Receive continued coverage after the borrower’s MI payment ends
- Encourage borrowers to make payments on time
- Have a retention vehicle—borrowers may be less likely to refinance due to the lowered payments after year five
- Enjoy a simple cancellation procedure when the term is up—lender is automatically notified 60 days in advance
How does Free After Five compare to other types of MI?
View the comparison chart or calculate Free After Five vs. other payment options.
More questions? Contact our MI professionals.
View Free After Five rates and guidelines.
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