MGIC MI: Make it an Option
SingleFile (Lender-Paid MI)
MGIC's lender-paid MI program SingleFilesm features discounted premiums. The cost of the single premium is recouped by building it into the loan interest rate or the origination fee. This provides your borrowers with additional tax deductibility because of the increased interest rate or origination fee. The origination fee can also be paid by a third party, such as a builder or a seller.
Available on:
Full Doc Only
| Nonrestricted Markets | Restricted Markets | ||
|---|---|---|---|
| Maximum LTV | Minimum FICO | Maximum LTV | Minimum FICO |
| 97% | 680 | 95%* | 680 |
| 95% | 620 | ||
* Beginning August 4, 2008, Arizona, California, Florida, and Nevada maximum LTV will be 90%.
With SingleFile (LPMI) you can:
- Structure high-LTV loans
- Finance higher loan amounts
- Enhance your role as Trusted Advisor and differentiate yourself from your competition by broadening the options you provide borrowers
Which Borrowers should consider SingleFile (LPMI) as an option?
- those whose primary concern is having the lowest monthly payment
- those purchasing a home in a buyer’s market with motivated builders and sellers willing and able to foot the bill
