April 15, 2026 USMI Statement on Benefits Delivered by Trump Administration Tax Policies to First-Time and Working-Class Homebuyers

April 15, 2026

WASHINGTON - Seth Appleton, President of U.S. Mortgage Insurers (USMI), today released the following statement in recognition of Tax Day:

"President Trump and Congress delivered a tremendous win for hardworking families across the country by reinstating and making permanent the mortgage insurance (MI) premium tax deduction as part of the Working Families Tax Cuts Act . Because of their efforts, beginning with tax year 2026, millions of hard-working American homeowners could receive meaningful tax relief without increasing risk in the housing finance system."

"It's not the first time that first-time and working-class homebuyers have benefited from changes to the tax code made by President Trump and Congress. When the Tax Cuts and Jobs Act was signed into law during the President's first term, the private MI industry passed along savings from lower corporate tax rates directly to homebuyers. Since then, private MI premium rates have decreased by 25% based on in-force premium yields - making homeownership even more affordable for American families."

For Background:

• Data from U.S. Mortgage Insurers show that the private MI industry helped nearly 800,000 borrowers secure mortgage financing in the past year alone. First-time homebuyers represented approximately 65% of purchasers with private MI.

• During the time in which the MI premium deduction was previously in effect (from 2007-2021):
  • The MI premium deduction was claimed 44 million times , representing a combined $65 billion in deductions for hardworking Americans.
  • On average, 3.4 million homeowners claimed the deduction each year.
  • During tax year 2021, the last year the deduction was available, the average deduction amount was $2,346 per qualified taxpayer .

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U.S. Mortgage Insurers (USMI) is dedicated to a housing finance system backed by private capital that enables access to housing finance for borrowers while protecting taxpayers. Mortgage insurance offers an effective way to make mortgage credit available to more people. USMI is ready to help build the future of homeownership. Learn more at www.usmi.org .