U.S. Mortgage Insurers, Washington, released a report finding that nearly 800,000 Americans used private mortgage insurance to purchase a home in 2023, and 64% were first-time buyers.
Tag: Private Mortgage Insurance
21 Years to Save for a Down Payment, Survey Finds
U.S. Mortgage Insurers, an association representing private mortgage insurance companies, said its annual state-by-state report on low down payment mortgage lending found saving for a 20 percent down payment could take potential homebuyers 21 years — three times the length of time it could take to save a 5 percent down payment.