Underwriting

As mortgage professionals, our shared goal is to prudently qualify as many borrowers as possible so they can successfully maintain homeownership. 
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The 4 Cs

By carefully reviewing borrowers’ Credit, Capacity, Capital and Collateral (the Four Cs), we can piece together a comprehensive picture of risk. The presence of a high-risk factor in any one of these categories doesn’t necessarily threaten successful homeownership. But when a number of interrelated, high-risk characteristics are present without sufficient offsets or compensating factors, their cumulative effect dramatically increases the likelihood of default. The perspective we gain from evaluating the Four Cs gives us insight to loan quality. Underwriting for quality is an acquired art — not a cut-and-dried science. While there are general principles that apply, every loan file represents a unique situation.

Underwriting guides

Look to our Underwriting Guide and summaries for our most current guidelines, which outline loan, borrower and property eligibility for mortgage insurance coverage.

Underwriting programs

MGIC Go!

We offer streamlined underwriting – for Agency Approve/Accept loans up to 97% LTV.

Self-employed borrower & income analysis calculators

Our editable and auto-calculating worksheets are available in macro-enabled and macro-free versions.

Housing finance agencies (HFAs)

We work closely with state and local housing finance agencies (HFAs) and support these mission-driven mortgage investors with marketing, training, homebuyer education and more.

Portfolio lending

Use MGIC MI to meet your community's diverse mortgage financing needs while reducing your exposure to credit risk, optimizing your capital utilization and reducing loan loss reserves.

HomeReady®/Home Possible®

Ideal options for low-to-moderate-income (LMI) families with minimal savings to apply toward the purchase of their first home.

More resources

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HomeReady® is a registered trademark of Fannie Mae. Home Possible® is a registered trademark of Freddie Mac.