National MI has always supported the market for first-time homebuyers. National MI offers competitive options for 97% LTVs (Standard 97s with the 3% down payment option) by helping borrowers to realize homeownership — quickly. With a little money saved, good credit and income, homeownership is in sight. Our programs for low down payment homebuyers present a very viable alternative to FHA.
With National MI, a borrower can expect:
- Only 3% down, less cash to close
- MI cancellation allowed
- No income or census tract restrictions
- Only one borrower must be a first-time homebuyer
All of these considerations are important to helping the current generation of homebuyers get into their first home.
Please refer to National MI TrueGuide for complete guidelines.