Home of Your Own
It’s common industry knowledge that, when homebuyers understand the potential challenges of homeownership, they are in a position to make smarter financing choices. PMI’s Home of Your Own program is specifically designed to help first-time homebuyers and/or low- to moderate-income borrowers become successful homeowners.
Making the right connections. Home of Your Own puts counseling agencies in touch with first-time homebuyers and/or low- to moderate-income borrowers for the education phase of the program. The program then facilitates the financing phase by having the agencies refer homebuyers to lenders who can offer special Home of Your Own mortgage insurance premiums for qualified homebuyers.
Getting started. If a counseling agency works with PMI, but is not currently part of the Home of Your Own network, PMI will evaluate the agency for participation in the program. If a participating counseling agency does not currently work with a specific lender, PMI has relationships with hundreds of lenders across the country and can coordinate an introduction.
Home of Your Own fosters collaboration with lasting benefits.
There’s no place like home. And there’s no program like Home of Your Own. For more information on PMI’s Home of Your Own program, please contact your PMI representative or refer to the following material:
- Home of Your Own Rate Sheet [PDF]
- Home of Your Own Questions & Answers [PDF]
- Home of Your Own List of Approved Counseling Agencies [PDF]
- Home of Your Own Counseling Agency Application [PDF]
* The United States of Department of Housing and Urban Development defines the terms for low- to moderate-income borrowers; for more information, please visit www.hud.gov.
Homebuyer education completion certificates from counseling agencies are valid for 12 months.
