Private MI helps make the dream of homeownership possible
Nearly 800,000 homeowners helped in the past year
- Nearly 63% of purchasers were first-time homebuyers
- Nearly 35% of borrowers had incomes below $75,000
- Average loan amount (purchase and refinance) with MI was approximately $345,000
Private MI helps get buyers into homes sooner
Variety of private MI products and fewer restrictions than government-insured mortgages.
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.
Private MI protects taxpayers and the government
- Nearly $1.4 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