More than 65 years of making homeownership possible
We’re proud to have invented the modern form of private mortgage insurance – and helped millions of families achieve homeownership sooner.
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The birth of a better way – and an entire industry
In the late 1950s, the national population was growing with the Baby Boom, and everyone expected to have a chicken in every pot and a car in every garage. But before the garage and the car came a home. The average cost of a home was $20,000 and the average yearly income was $4,545. Saving up for the required 20% down payment on a home was very difficult since it equaled almost a full year’s salary!![illustration of turkey, car, house, cash, and home loans with increasing costs over time](/-/media/mgic/images/possible/thennow-prices1900x336.jpg?h=336&w=1900&hash=91A935C52298D9F838040C695F34FDA6)
Then and now: MGIC through the years
Get to know us better
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Our leadership
The leaders at MGIC are forward thinkers who pave the way for our shared success. Each brings a wealth of expertise and a dedication to our mission.
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The Max Karl legacy
Max Karl, the founder of modern private mortgage insurance, wore thick glasses, convinced his barber to invest in him, and spurred an entire industry.
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The MGIC difference
What MGIC does makes a difference. In addition to competitive rates and a drive to do what's right, we offer invaluable resources to help grow your business.