HKMC Mortgage Insurance Programme

The Hong Kong Mortgage Corporation's Mortgage Insurance Programme is not a bank product but an enabler — it allows buyers of properties up to HK$10 million to borrow up to 90% LTV (versus the standard 60% cap for HK$10M+ properties) by insuring the lender against the incremental credit risk. The MIP premium of 1.43-5.04% of the loan (depending on LTV and tenor) is typically rolled into the loan. For first-time buyers with limited down payment savings, MIP is the critical tool that makes homeownership accessible in Hong Kong's high-price market.