Mortgage insurance helps you to get a mortgage without having to make a substantial down payment. By paying a mortgage insurance premium, you can purchase a new home with less than 20% down. Mortgage insurance protects the mortgage investor if the account becomes past due. 
 
The most common types of mortgage insurance are private mortgage insurance (PMI) and insurance through the Federal Housing Administration (FHA), called a mortgage insurance premium (MIP).
 
If you are required to carry mortgage insurance, the insurance may be canceled when the equity in your home reaches a certain percentage.

Mortgage insurance is required for FHA loans and is referred to as mortgage insurance premium (MIP). MIP protects the mortgage investor if the account becomes past due.

You are responsible for cancelling your previous insurance policy. If you receive a refund from the previous carrier, send it to us to apply to your escrow account. 

You can upload the insurance policy information to our MyCoverage website here or email it to MortgageFamily@MyCoverageInfo.com. You can also fax the information to 1-937-525-4210.

You don’t need to worry – your previous mortgage servicer should take care of notifying your insurance carrier about the change.

No need to worry – we’ll take care of that for you. Your insurance carrier will be notified of the change automatically.