Exploring Loan Options

What is private mortgage insurance (PrivateMI)?

Traditionally, lenders require a down payment of at least 20 percent of a home's value. With high home prices in many markets, that down payment is nearly impossible for most first-time home buyers. By allowing low down payments of 3 percent or less for qualified borrowers, PrivateMI has given more than 25 million families the choice to purchase their home sooner and with the type of loan that best suits their needs.

Why is PrivateMI smart?

PrivateMI means a fixed and predictable monthly premium payment with no surprises. Compared with other forms of financing, a loan with PrivateMI is often more affordable. PrivateMI is also a smart choice because it's there only as long as you need it, since it's cancelable once you’ve built 20 percent equity in your home. And for many borrowers, PrivateMI is tax deductible.

PrivateMI: more choices for home buyers, affordable, predictable, cancelable and now deductible. But don't take our word for it. Read more about the benefits of PrivateMI, and use our tools to see if it’s the right choice for you.