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 lenders. You can market affordable mortgages with extremely low down payments to these customers by structuring their loans with mortgage insurance — especially the flexible options available with MIHome from Arch MI.
Your Borrower’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 borrowers.
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 borrowers; 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 borrowers 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.*
- Free Roadmap to Homeownership toolkit contains everything you need to present a homebuyer seminar — on your own or with a Realtor partner.
*Available for borrowers 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
- Know Your Millennials Flyer
Understand today’s homebuyers better. - Low-Down-Payment Options Flyer
See how MIHome can help you close more loans with Millennial renters. - Check out our flexible guidelines for Arch MI-insured Loans.
- AMGC Community Program
Review 3%, 1% or even 0% down payment options for eligible homebuyers. - Roadmap to Homeownership
Download our complete toolkit for setting up your homebuyer seminar. - Use Our Customizable Social Media Messaging.
Share with Realtors
- Low-Down-Payment Options Flyer
Download and cobrand with your info to share with Realtors. - PowerPoint on Low-Down-Payment Options
Download and cobrand with your info for meetings with Realtors. - Rent vs. Own Flyer
Download and cobrand with your own info for Realtor partners.
Share with Borrowers
- Low-Down-Payment Options Flyer
Download and cobrand with your own info to share with borrowers. - Building Wealth Through Homeownership
Educate prospects on the difference homeowning makes. - Rent vs. Own Flyer
Download and cobrand to help borrowers understand their options. - Access free homebuyer education to meet affordable loan program requirements*
*Available for borrowers 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 borrowers 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.
| WHAT’S KEEPING CONSUMERS FROM BUYING?* | |
| Down Payment | 54% |
| High Prices | 36% |
| Qualifying for a Mortgage | 22% |
| CONSUMER DOWN PAYMENT EXPECTATIONS** | ||||
| Percentage | 5% or Less | 6-10% | 11-15% | 16% or More/Not Sure |
| Survey Respondents | 11% | 21% | 4% | 64% |
| SOARING RENTS | |
| Nationally, the average two-bedroom apartment’s rent is $2,065 per month — up 25% in 12 months. | |