Tax-deductible Mortgage Insurance.

Life is just a bowl of cherries with
tax-deductible MGIC MI!

For more than 50 years, financing with MGIC mortgage insurance has helped borrowers finance low-down-payment mortgages, boost their buying power, broaden their cash-flow options and buy their home years sooner.

And now that it’s tax-deductible through the year 2010, well, that’s just the cherry on top!

Households whose adjusted gross income is $100,000 or less can deduct 100% of their MI premiums. (The deduction is reduced by 10% for each additional $1,000 of adjusted gross income, phasing out after $109,000.)

The deduction applies to “qualified residences,” as defined in the Internal Revenue Code. Generally, that includes the borrower’s primary residence and a nonrental second home. Investor properties are not eligible.

Visit our website for details and the most current information about MI tax deductibility.

Borrowers should consult with a professional tax advisor for details about MI tax deductibility.