Lenders require that borrowers put down a 20% down payment on their home's price. However, with the guaranty of mortgage insurance, lenders accept as little as 5% or 10% down payment. All home buyers can benefit because mortgage insurance increases their buying powers and enables them to buy homes sooner; these are important benefits from a buyer's point of view because it gives borrowers more options. Mortgage insurance can allow buyers to put low down payment or to purchase a more expensive home. Also there is a tax benefit for repeat home buyers because they can put less money down and can claim more deductible interest. They can also use the cash originally intended for a large down payment towards investments, moving costs, decorating, or other expenses.