New home expenses
Retirement boost
Market opportunity
Investment possibilities
Investopedia, January 2022
2022
Why borrowers might want to put down 15% instead of 20%
Home repair
The S&P 500 has returned a historic average annual return of around 10.5% over the last 65 years.
For Gen X, retirement both beckons and threatens during the pandemic, eMarketer, February 2021
National Association of Home Builders special study, Spending Patterns of Home Buyers, June 2022
kitchen Appliances
Bathroom
remodel
PATIO
FURNITURE
HoUSE Painting
tree
trimming
Landscaping
washing machine
1957
Morstat data
May need a boost
On track
The difference between 20% and 15% down could jumpstart your borrowers’ non-retirement financial savings goals. It’s time to rethink your MI strategy to open more doors for more homebuyers.
Uncover our 6 strategies
See how it worked for Sarah and Val
Are your borrowers prepared for these common expenses? Putting down 15% instead of 20% leaves money on the table for borrowers to make their new house truly a home.
During the first year after closing on a home, homebuyers tend to spend $10,924-$21,306 on appliances, furnishings and property alterations.
See Jay and Asha's story
Putting down less than 20% could help borrowers boost their retirement funds – and could give you an opportunity to offer further value. Does your institution offer IRAs?
26% of GenXers aren’t even saving for retirement, and only a third of GenXers rate their retirement savings as “on track.”
See how MI can help
Knowing all their options opens the door for borrowers to find the loan – and home – that works best for them. It’s up to you to reveal new opportunities for homebuyers.
28% of 2021 purchase loans sold to Fannie Mae and Freddie Mac were done at LTVs between 75.01%-80%.