Private MI: Helping millions of Americans become homeowners each year
Over the past 65 years, MI has helped more than 37 million home-ready borrowers across the country access affordable low down payment home financing while protecting lenders and taxpayers.
Private MI helped nearly 2 million people become homeowners in 2021 alone. USMI’s annual report breaks down low down payment mortgage lending with MI in all 50 states and the District of Columbia. The report provides an analysis of how long it would take homebuyers to save for a 20 percent down payment compared to a 5 percent down payment.
Click below to read the 2022 report:
Click on the map below to find out more about MI in each state and how MI has made it possible for many borrowers to get into homes sooner.
Alabama
24,391 Homeowners Helped in 2021
44% First-Time Homebuyers in
$253,520 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
44% First-Time Homebuyers in
$253,520 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Alaska
3,359 Homeowners Helped in 2021
50% First-Time Homebuyers in
$326,594 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
50% First-Time Homebuyers in
$326,594 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Arizona
49,228 Homeowners Helped in 2021
55% First-Time Homebuyers in
$335,080 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
55% First-Time Homebuyers in
$335,080 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
Arkansas
13,254 Homeowners Helped in 2021
43% First-Time Homebuyers in
$233,838 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
43% First-Time Homebuyers in
$233,838 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
California
134,231 Homeowners Helped in 2021
72% First-Time Homebuyers in
$478,119 Avg. Loan Amount Purchased/Refinanced with PMI in
28 Years to Save for 20% Down payment VS 10 Years for 5% Down Payment
72% First-Time Homebuyers in
$478,119 Avg. Loan Amount Purchased/Refinanced with PMI in
28 Years to Save for 20% Down payment VS 10 Years for 5% Down Payment
Colorado
45,623 Homeowners Helped in 2021
62% First-Time Homebuyers in
$396,474 Avg. Loan Amount Purchased/Refinanced with PMI in
19 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
62% First-Time Homebuyers in
$396,474 Avg. Loan Amount Purchased/Refinanced with PMI in
19 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
Connecticut
19,149 Homeowners Helped in 2021
69% First-Time Homebuyers in
$288,309 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
69% First-Time Homebuyers in
$288,309 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Delaware
7,066 Homeowners Helped in 2021
51% First-Time Homebuyers in
$305,242 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
51% First-Time Homebuyers in
$305,242 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
District of Columbia
4,311 Homeowners Helped in 2021
75% First-Time Homebuyers in
$495,309 Avg. Loan Amount Purchased/Refinanced with PMI in
33 Years to Save for 20% Down payment VS 11 Years for 5% Down Payment
75% First-Time Homebuyers in
$495,309 Avg. Loan Amount Purchased/Refinanced with PMI in
33 Years to Save for 20% Down payment VS 11 Years for 5% Down Payment
Florida
128,897 Homeowners Helped in 2021
55% First-Time Homebuyers in
$299,707 Avg. Loan Amount Purchased/Refinanced with PMI in
18 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
55% First-Time Homebuyers in
$299,707 Avg. Loan Amount Purchased/Refinanced with PMI in
18 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
Georgia
62,398 Homeowners Helped in 2021
56% First-Time Homebuyers in
$299,249 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
56% First-Time Homebuyers in
$299,249 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Hawaii
3,876 Homeowners Helped in 2021
66% First-Time Homebuyers in
$512,813 Avg. Loan Amount Purchased/Refinanced with PMI in
28 Years to Save for 20% Down payment VS 10 Years for 5% Down Payment
66% First-Time Homebuyers in
$512,813 Avg. Loan Amount Purchased/Refinanced with PMI in
28 Years to Save for 20% Down payment VS 10 Years for 5% Down Payment
Idaho
9,597 Homeowners Helped in 2021
55% First-Time Homebuyers in
$344,687 Avg. Loan Amount Purchased/Refinanced with PMI in
19 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
55% First-Time Homebuyers in
$344,687 Avg. Loan Amount Purchased/Refinanced with PMI in
19 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
Illinois
84,490 Homeowners Helped in 2021
65% First-Time Homebuyers in
$250,067 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
65% First-Time Homebuyers in
$250,067 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Indiana
40,845 Homeowners Helped in 2021
56% First-Time Homebuyers in
$222,944 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
56% First-Time Homebuyers in
$222,944 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Iowa
19,471 Homeowners Helped in 2021
60% First-Time Homebuyers in
$206,047 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 3 Years for 5% Down Payment
60% First-Time Homebuyers in
$206,047 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 3 Years for 5% Down Payment
Kansas
15,873 Homeowners Helped in 2021
55% First-Time Homebuyers in
$228,689 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
55% First-Time Homebuyers in
$228,689 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Kentucky
19,995 Homeowners Helped in 2021
54% First-Time Homebuyers in
$226,176 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
54% First-Time Homebuyers in
$226,176 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Louisiana
20,120 Homeowners Helped in 2021
46% First-Time Homebuyers in
$252,147 Avg. Loan Amount Purchased/Refinanced with PMI in
14 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
46% First-Time Homebuyers in
$252,147 Avg. Loan Amount Purchased/Refinanced with PMI in
14 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Maine
5,431 Homeowners Helped in 2021
55% First-Time Homebuyers in
$279,489 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
55% First-Time Homebuyers in
$279,489 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Maryland
47,731 Homeowners Helped in 2021
62% First-Time Homebuyers in
$355,573 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
62% First-Time Homebuyers in
$355,573 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Massachusetts
27,176 Homeowners Helped in 2021
73% First-Time Homebuyers in
$404,344 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
73% First-Time Homebuyers in
$404,344 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
Michigan
62,089 Homeowners Helped in 2021
61% First-Time Homebuyers in
$228,120 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 3 Years for 5% Down Payment
61% First-Time Homebuyers in
$228,120 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 3 Years for 5% Down Payment
Minnesota
45,912 Homeowners Helped in 2021
63% First-Time Homebuyers in
$282,475 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
63% First-Time Homebuyers in
$282,475 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Mississippi
8,972 Homeowners Helped in 2021
43% First-Time Homebuyers in
$236,206 Avg. Loan Amount Purchased/Refinanced with PMI in
14 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
43% First-Time Homebuyers in
$236,206 Avg. Loan Amount Purchased/Refinanced with PMI in
14 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Missouri
37,231 Homeowners Helped in 2021
53% First-Time Homebuyers in
$233,362 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
53% First-Time Homebuyers in
$233,362 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Montana
4,861 Homeowners Helped in 2021
53% First-Time Homebuyers in
$309,045 Avg. Loan Amount Purchased/Refinanced with PMI in
19 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
53% First-Time Homebuyers in
$309,045 Avg. Loan Amount Purchased/Refinanced with PMI in
19 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
Nebraska
12,019 Homeowners Helped in 2021
63% First-Time Homebuyers in
$226,264 Avg. Loan Amount Purchased/Refinanced with PMI in
9 Years to Save for 20% Down payment VS 3 Years for 5% Down Payment
63% First-Time Homebuyers in
$226,264 Avg. Loan Amount Purchased/Refinanced with PMI in
9 Years to Save for 20% Down payment VS 3 Years for 5% Down Payment
Nevada
21,859 Homeowners Helped in 2021
59% First-Time Homebuyers in
$338,043 Avg. Loan Amount Purchased/Refinanced with PMI in
19 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
59% First-Time Homebuyers in
$338,043 Avg. Loan Amount Purchased/Refinanced with PMI in
19 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
New Hampshire
7,021 Homeowners Helped in 2021
62% First-Time Homebuyers in
$324,724 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
62% First-Time Homebuyers in
$324,724 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
New Jersey
43,393 Homeowners Helped in 2021
69% First-Time Homebuyers in
$359,262 Avg. Loan Amount Purchased/Refinanced with PMI in
14 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
69% First-Time Homebuyers in
$359,262 Avg. Loan Amount Purchased/Refinanced with PMI in
14 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
New Mexico
9,824 Homeowners Helped in 2021
55% First-Time Homebuyers in
$261,808 Avg. Loan Amount Purchased/Refinanced with PMI in
27 Years to Save for 20% Down payment VS 10 Years for 5% Down Payment
55% First-Time Homebuyers in
$261,808 Avg. Loan Amount Purchased/Refinanced with PMI in
27 Years to Save for 20% Down payment VS 10 Years for 5% Down Payment
New York
44,514 Homeowners Helped in 2021
70% First-Time Homebuyers in
$342,260 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
70% First-Time Homebuyers in
$342,260 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
North Carolina
63,211 Homeowners Helped in 2021
53% First-Time Homebuyers in
$291,733 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
53% First-Time Homebuyers in
$291,733 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
North Dakota
4,569 Homeowners Helped in 2021
48% First-Time Homebuyers in
$252,773 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
48% First-Time Homebuyers in
$252,773 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Ohio
64,149 Homeowners Helped in 2021
60% First-Time Homebuyers in
$217,314 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 3 Years for 5% Down Payment
60% First-Time Homebuyers in
$217,314 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 3 Years for 5% Down Payment
Oklahoma
18,749 Homeowners Helped in 2021
45% First-Time Homebuyers in
$231,474 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
45% First-Time Homebuyers in
$231,474 Avg. Loan Amount Purchased/Refinanced with PMI in
12 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Oregon
24,902 Homeowners Helped in 2021
67% First-Time Homebuyers in
$380,175 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
67% First-Time Homebuyers in
$380,175 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
Pennsylvania
62,085 Homeowners Helped in 2021
63% First-Time Homebuyers in
$258,468 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
63% First-Time Homebuyers in
$258,468 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Rhode Island
4,590 Homeowners Helped in 2021
64% First-Time Homebuyers in
$310,651 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
64% First-Time Homebuyers in
$310,651 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
South Carolina
32,500 Homeowners Helped in 2021
48% First-Time Homebuyers in
$268,407 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
48% First-Time Homebuyers in
$268,407 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
South Dakota
4,978 Homeowners Helped in 2021
55% First-Time Homebuyers in
$242,868 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
55% First-Time Homebuyers in
$242,868 Avg. Loan Amount Purchased/Refinanced with PMI in
11 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Tennessee
36,696 Homeowners Helped in 2021
50% First-Time Homebuyers in
$298,072 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
50% First-Time Homebuyers in
$298,072 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
Texas
148,366 Homeowners Helped in 2021
59% First-Time Homebuyers in
$300,438 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
59% First-Time Homebuyers in
$300,438 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Utah
25,222 Homeowners Helped in 2021
55% First-Time Homebuyers in
$382,801 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
55% First-Time Homebuyers in
$382,801 Avg. Loan Amount Purchased/Refinanced with PMI in
17 Years to Save for 20% Down payment VS 6 Years for 5% Down Payment
Vermont
2,254 Homeowners Helped in 2021
56% First-Time Homebuyers in
$270,932 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
56% First-Time Homebuyers in
$270,932 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Virginia
55,624 Homeowners Helped in 2021
58% First-Time Homebuyers in
$361,465 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
58% First-Time Homebuyers in
$361,465 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Washington
44,076 Homeowners Helped in 2021
68% First-Time Homebuyers in
$438,935 Avg. Loan Amount Purchased/Refinanced with PMI in
20 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
68% First-Time Homebuyers in
$438,935 Avg. Loan Amount Purchased/Refinanced with PMI in
20 Years to Save for 20% Down payment VS 7 Years for 5% Down Payment
West Virginia
5,897 Homeowners Helped in 2021
50% First-Time Homebuyers in
$213,275 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
50% First-Time Homebuyers in
$213,275 Avg. Loan Amount Purchased/Refinanced with PMI in
15 Years to Save for 20% Down payment VS 5 Years for 5% Down Payment
Wisconsin
36,683 Homeowners Helped in 2021
65% First-Time Homebuyers in
$236,301 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
65% First-Time Homebuyers in
$236,301 Avg. Loan Amount Purchased/Refinanced with PMI in
10 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
Wyoming
3,177 Homeowners Helped in 2021
45% First-Time Homebuyers in
$274,977 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
45% First-Time Homebuyers in
$274,977 Avg. Loan Amount Purchased/Refinanced with PMI in
13 Years to Save for 20% Down payment VS 4 Years for 5% Down Payment
