ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On June 10, 2021, M/I Homes, Inc. (the "Company") entered into a Fourth Amendment (the "Fourth Amendment") to the Company's unsecured revolving credit facility, dated July 18, 2013, among the Company, the lenders party thereto and PNC Bank, National Association, as administrative agent (as so amended, the "Credit Agreement"). The Fourth Amendment, among other things, increased the commitments from the lenders to $550.0 million from $500.0 million, extended the maturity to July 18, 2025, increased the required minimum level of Consolidated Tangible Net Worth from $848.2 million to $946.2 million (subject to increase over time based on earnings and proceeds from equity offerings) and increased the letter of credit sublimit to $150 million from $125 million. The Fourth Amendment also provides an accordion feature pursuant to which the maximum borrowing availability may be increased at the request of the Company to an aggregate of $700.0 million, subject to obtaining additional commitments from lenders and other terms and conditions of the Credit Agreement.

Interest on amounts borrowed under the Credit Agreement is payable at a rate which is adjusted daily and is equal to the sum of the one-month LIBOR rate plus a margin. The Fourth Amendment reduced the floor on one-month LIBOR to 0.25% from 0.75%, and decreased the LIBOR margin to 175 basis points from 250 basis points (based on the Company's leverage ratio at March 31, 2021). The LIBOR margin is subject to adjustment in subsequent quarterly periods based on the Company's leverage ratio. The Fourth Amendment also decreased the commitment fee paid quarterly by the Company on the remaining available commitment amount by 15 basis points, to 30 basis points, which is also subject to adjustment in subsequent quarterly periods based on the Company's leverage ratio. Additionally, the Fourth Amendment increased the borrowing base advance rates for certain categories of inventory used to calculate the available amount under the Credit Agreement. As of March 31, 2021, there were no borrowings outstanding and $66.7 million letters of credit outstanding under the Credit Agreement.

Certain of the lenders party to the Fourth Amendment are also lenders and/or serve as the administrative agent under a $175 million secured mortgage warehousing agreement with M/I Financial, LLC, a wholly-owned subsidiary of the Company, as borrower.

The foregoing summary is qualified in its entirety by reference to the Fourth Amendment which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. All capitalized terms not otherwise defined herein are as defined in the Credit Agreement.




ITEM 2.03  CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
OFF-
BALANCE SHEET ARRANGEMENT OF A REGISTRANT
The information set forth above under Item 1.01 relating to the Company's entry
into the Fourth Amendment is hereby incorporated by reference into this Item
2.03.


ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS
(d)  Exhibits.
Exhibit No.              Description of Exhibit

       10.1                Fourth     Amendment to Credit Agreement, dated June     10    ,
                         202    1    , by and among M/I Homes, Inc., as borrower, the lenders party
                         thereto, and PNC Bank, National Association, as administrative agent.

       104               Cover Page Interactive Data File (embedded within the Inline XBRL
                         document).*

*Submitted electronically with this Report in accordance with the provisions of Regulation S-T.

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