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Borrower Education

Borrower Education

From loan officers to the general public, many people do not fully understand the benefits of mortgage insurance (MI), or how MI can be used to get borrowers into a home faster.

MI TAX DEDUCTION BENEFITS

Mortgage insurance premiums are tax deductible for eligible borrowers who itemize deductions, effective 2026 tax year.1 The MI tax deduction may offset part of the cost of a low-down-payment loan. For example, qualified homeowners received a deduction of $2,364 in 2021 (savings based on income limits).2 This tax benefit will now be available annually, no longer needing legislative renewal.



1For general informational purposes only, not intended as legal or tax advice. Eligibility includes adjusted gross income (AGI) limits. Refer to full IRS guidelines and consult a tax professional

2Based on median income and home prices. Source: USMI.org MI Deductibility

Affordable Lending Programs

Low-down payment options are available, including the ability to purchase a home with as little as 3% down, which is quite a drop from the typical 20% down payment philosophy.

The time it takes for a homebuyer to save the additional funds could delay the purchase of a home. There are many resources available to first-time homebuyers that allow them to get into a home faster.

With mortgage insurance from National MI, first-time homebuyers have access to Affordable Lending Programs designed for low-down payment purchases.