How to talk to borrowers about MI

Help borrowers understand how mortgage insurance (MI) can be used as a strategic tool that benefits them.

Your conversation about MI could shorten a decades-long wait on their lifelong dream.

As a trusted mortgage professional, you are in a unique position to help your borrowers understand their finance options for homebuying – including the use of mortgage insurance (MI).

Use your role as a trusted advisor to debunk misconceptions about MI and explain how it can be used as a financial tool to their advantage.

Need inspiration? These talking points can help you guide discussion with your borrowers.

“I want to make sure you’re aware of all your financial options.”
“There’s a strategic way for you to buy the house and still have cash for other purposes.”
“You could actually buy the house now instead of waiting.”

Talking points for your borrowers who want to…

  • Buy a home sooner

    Borrowers can put down as little as 3%.

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  • Increase buying power

    Borrowers can afford a home in a higher price range.

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  • Expand cash flow options

    A smaller down payment allows borrowers to keep cash for other purposes.

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Now we’re talking!

By sharing your expertise and showing your borrowers all their options, they’ll know you’re working in their best interests. Even if they decide not to use MI, you’ll earn their trust and referrals.

Resources to support your conversations

  • Get Ready guide

    Down payment options

    Explains mortgage options that might help borrowers find more down payment funds or put less down.

    Download English

    Download Spanish

  • Mortgage literacy

    The scoop on MI

    Mortgage insurance allows your borrowers to put less than 20% down on a house. This shareable outlines the basics.

    Download English

    Download Spanish

  • Mortgage literacy

    How to cancel mortgage insurance

    Share this simple guide to explain when and how your borrowers can cancel mortgage insurance.

    Download English

    Download Spanish

  • Mortgage literacy
    The truth about private mortgage insurance flyer image

    The truth about private mortgage insurance

    Illustrate the advantages MI brings to achieving homeownership through real-life examples.

    Download

Show your borrowers the value of MI

This brief video can help your borrowers imagine the possibilities that MI affords them. Watch and share the video with them via YouTube.

Speaking of resources…

  • Buy Now vs. Wait Calculator

    Should first-time homebuyers wait a few more years to save up for a big down payment? Or is it smarter to buy right now?

    Help borrowers run the numbers

  • Readynest.com

    Use this robust resource full of helpful tips and tools to educate your borrowers.

    Start here

  • Host your own homebuyer seminar

    Attract and build relationships with prospective homebuyers by helping them understand the homebuying process.

    Request our seminar materials