Why Does the Mortgage Insurance Cost Differ Between My Loan Scenario and My Loan?

ISSUE: When you run a loan scenario in the quick pricer tab, you may notice that the mortgage insurance cost is different than when you price in a current loan under the 'price and lock' screen.

SOLUTION

It's important to understand that the Quick MI Pricer uses one MI company, our Pricing Engine (on a loan) will compare multiples and provide the best price.

The pricing engine on the loan will pick the best price and applied it to the loan payment.

**Please note, the pricing on the loan will be the actual amount applied to the loan. We suggest using the pricing engine on the current loan screen for a more accurate mortgage insurance cost and pricing option.