TERMS & CONDITIONS

• Seven year term from date of closing

• Coverage limit up to $200,000

• Up to 20%, whichever is less

• Residential properties only; no commercial properties

• Coverage transferable to servicer

COVERAGE TRIGGERS

• Home must be sold within the coverage period

• Transaction must be “arms-length” 

• Homes are recorded against the Home Price Index published by the FHFA at time of purchase and again at time of sale

• HPI reflects a loss when home is sold 

• Payout is lesser of 

  •  Actual loss  of the down payment, or 

  •  Change in the HPI as percentage of loss