Private MI helps make the dream of homeownership possible

>37 Million
Number of homeowners MI helped purchase or refinance a mortgage since 1957.

Nearly 2 million homeowners helped in 2021

  • Nearly 60% of purchasers were first-time homebuyers
  • More than 40% of borrowers had incomes below $75,000
  • Average loan amount (purchase and refinance) with MI was approximately $310,000  

Private MI helps get buyers into homes sooner

Flexibility

Variety of private MI products and fewer restrictions than government-insured mortgages.


Cancelability

Unlike the vast majority of government mortgage insurance, private MI cancels once a borrower has built enough equity, resulting in lower monthly payments over time.

3%
Lowest down payment borrowers need to get in homes faster and have extra cash to save.

Private MI protects taxpayers and the government

  • More than $1.2 TRILLION in GSE mortgages currently outstanding have protection from MI coverage 
  • Private mortgage insurers have covered nearly $60 BILLION in claims since the GSEs entered conservatorship  

 

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