MIHome from Arch MI

Products, Solutions and Resources to Support Affordable Homeownership
Choose Expanded Low-Down-Payment Options: 3% or Even Less

Millennials are entering their prime homebuying years, and rapidly rising rents make homeownership even more attractive. For this generation, the only problem is coming up with the down payment — and it’s usually lower than they think.

This is a great opportunity for credit unions. You can market affordable mortgages with extremely low down payments to these members and prospects by structuring their loans with mortgage insurance — especially the flexible options available with MIHome from Arch MI.

Your Member’s Current Savings May Be Enough

According to the National Association of Realtors®, 64% of survey participants either didn’t know how much of a down payment is needed or said lenders require 16% or more.

In reality, first-time homebuyers put down an average 7%. MIHome from Arch MI and Arch Mortgage Guaranty Company (AMGC) allows down payments as low as 3%, 1%, even 0% for eligible members.  

MIHome from Arch MI: Everything You Need to Originate and Close This Purchase Business

Get the MI products, solutions and resources that support affordable homeownership for Millennials who want to buy now:

  • Flexible Arch MI guidelines work with down payments as low as 3%; gifts and grants are allowed.
  • Manufactured homes, condos, co-ops, single-family and construction-to-perm are all eligible.
  • AMGC Community programs allow 1% and even 0% down payments for eligible members; gifts and grants are allowed.
  • Competitive MI pricing with RateStar® and customized premium payments with RateStar BuydownSM.
  • Appraisal gaps? Use our MI strategy to eliminate the need for extra cash at closing.
  • Social media resources: Use our customizable messaging to educate members and Realtors on low-down-payment options.
  • Realtor resources: Announce low-down-payment options with MI to local real estate agents using our co-brandable presentation and flyer.
  • Free GSE-approved homebuyer education via our website for members.*
  • Free Roadmap to Homeownership toolkit contains everything you need to present a homebuyer seminars.

*Available for members with Arch MI-insured loans.

Tell Millennial renters “We Have Your Number.”

Get started by contacting your Arch MI Account Manager today.

MIHome Toolkit

In addition to exclusive resources for loan originators, MIHome from Arch MI offers co-branded flyers and electronic media designed for you to share with Realtors and aspiring homebuyers:

For Loan Originators

Share with Realtors

Share with Members

*Available for members with Arch MI-insured loans.

Social Media Messaging

Reach Out to Renters and Realtors with Our Customizable Social Media Messaging

Want an easy way to tell your target audience that the actual down payment is a lot less than 20% of the purchase price? Use our social media templates to broadcast the message — and highlight how MIHome from Arch MI makes it possible for loans with low down payments to be approved.

Hurdles to Homebuying

Investing in a Home: Savings and Building Wealth

Homeownership stands out as one of the best tools for building wealth. The Federal Reserve’s 2020 Survey of Consumer Finances found the median net worth of homeowners is $255,000 — far more than the $6,300 median net worth of renters. While other investments can contribute to a person’s net worth, a home is the largest asset most people own.

Help your members understand all the benefits of purchasing a home and the mortgage process using our Roadmap to Homeownership presentation. We make it easy to co-brand the presentation with your logos for individual or group meetings in person or via Zoom.

Down Payment54%
High Prices36%
Qualifying for a Mortgage22%
* Survey of non-owners who want to buy a home conducted in August 2021. Source: LendingTree
Percentage5% or Less6-10%11-15%16% or More/Not Sure
Survey Respondents11%21%4%64%
** Telephone survey of more than 2,700 consumers in 2020 for NAR report. Source: National Association of Realtors
Nationally, the average two-bedroom apartment’s rent is $2,065 per month — up 25% in 12 months.
Source: Rent.com May 2022 Rent Report