Homeownership for All – 97% LTVs

Fannie Mae® and Freddie Mac® recently published announcements to once again back mortgages with down payments as low as 3% and National MI’s underwriting guidelines remain in alignment with this move.

Inspired by Homeownership

National MI has always supported the market for first time homebuyers and the 3% down payment option is in line with our mission to enable low down payment borrowers to realize homeownership – quickly and more affordably.

Our guidelines fully support the GSE’s expansion to 97% LTVs:

  • 97% LTV down to 620 credit score for primary residence purchase and rate term refinances
  • 100% gift funds allowed

Less than 5% down doesn’t necessarily mean FHA

Our Affordable Lending and first time homebuyer programs for low down payment purchases present a very viable alternative to FHA, as conventional loans can remain an option for 97% LTV borrowers.

With National MI, a borrower can expect:

  • Less cash to close
  • Lower monthly payments
  • Equity Preservation
  • MI Cancellation

All important to helping the current generation of homebuyers get into their first home.

GSE Affordable Programs