MassHousing's Mortgage Insurance Fund (MIF) is a public mortgage insurer that provides financial guarantees on mortgages made to low- and moderate-income homebuyers.
The MIF is the primary insurer of MassHousing mortgage products, and is an approved insurer for Fannie Mae, Freddie Mac, and Massachusetts community lender loans.
Along with providing all of the lender coverage of traditional mortgage insurance, all eligible loans insured by the MIF include MIPlus™ Payment Protection Benefits, which cover an eligible homeowner's principal and interest payments for up to six months ($2,000/month) if they become unemployed and are collecting unemployment benefits during the policy's 10-year term. These added job loss protection benefits are offered at no additional cost to either the borrower or the lender.
The MIF also provides state regulated banks with additional product and program flexibility under Massachusetts affordable housing statutes (Ch167E, 2C MGL). MIF programs create a full range of affordable housing opportunities for qualified borrowers through our participating lenders and banks.
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If you have questions or would like more information about the MIF, please email us.
