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Mortgage Insurance from MassHousing

Not all of MassHousing's mortgage programs require it, but mortgage insurance (MI) from MassHousing is different from traditional MI.

What is Mortgage Insurance?

Traditional mortgage insurance is generally required for borrowers making a down payment of less than 20% on their home purchase. It protects the lender in the event of a borrower foreclosure and claim.


Mortgage insurance from MassHousing features MIPlus, a unique benefit that helps the borrower pay their mortgage if they lose their job and are collecting unemployment benefits. MIPlus is included in the mortgage insurance provided by MassHousing at no additional cost.

MIPlus covers the principal and interest portion of the mortgage for up to 6 months (up to $2,000 per month). The benefit amount is prorated based on borrowers' incomes at the time of the mortgage application. The benefit can be used for any 6 months during the first 10 years of the mortgage—after the first 6 months of the mortgage.

MI Options from MassHousing

MI Premiums can be paid in an upfront, single premium or a monthly premium. Single premiums may be paid by the lender, a family member, employers, municipalities, non-profits or the borrower. Single premiums not paid by the lender are refundable under our published refund schedule. Monthly premiums are not refundable.

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MassHousing rates change daily. Please contact a participating lender for the current MassHousing interest rate.

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Still Have Questions?

Do you have questions about the homebuying process or about our products and programs for homebuyers? Ask Mircia, MassHousing's resident mortgage and homebuying expert!

TEL: 888.843.6432 | Email
Monday-Friday, 9 a.m. to 5 p.m.