MIP Premium Discount Calculator
MIP Risk-based Scoring Model
HKMC Insurance Limited ("HKMCI") introduces the Risk-based Scoring Model ("RBSM") to offer discount on insurance premium based on credit history and risk profile of Mortgage Insurance Programme ("MIP") applicants. In particular, the following factors are taken into account when assessing such discount: (i) whether the applicant is an owner of any residential property in Hong Kong, (ii) the applicant’s debt-to-income ratio based on loan amount, (iii) the applicant’s employment type, (iv) credit score of the applicant’s TransUnion credit report and (v) whether the applicant has any previous mortgage loans under the MIP and if so, the relevant cover period and repayment record.
The RBSM is only applicable to owner-occupied residential properties loan. Successful applicants may enjoy up to 50% discount on premium.
|Loan-to-value (LTV) ratio||Maximum premium discount|
|80% or below||50%|
|Above 80% and up to 85%*||50%|
|Above 85% and up to 90%*||45%|
*only applicable to application with (i) all mortgagors not holding any residential properties in Hong Kong at the time of application; (ii) all applicants being regular salaried persons; and (iii) maximum debt-to-income ratio of 45% (please refer to the requirement of maximum debt-to-income ratio as stated in the relevant Insurance Eligibility Criteria)
By using the Premium Discount Calculator, you can obtain an indicative premium discount. Please click "Continue" and refer to the respective Terms and Conditions.
You may contact our Mortgage Insurance Hotline at 2536 0136 during the office hours (Mon - Fri, 9:00 am to 1:00 pm and 2:00 pm to 6:15 pm, except public holidays) if you have any questions.