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.
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.
Educational Links for Homebuyers

First-time Homebuyer Education for Freddie Mac Home Possible®
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First-time Homebuyer Education for Fannie Mae HomeView™
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HomeTrek Online Homebuyer Education
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Landlord Counselling
Learn MoreRelated Resources

Mortgage Fundamentals
