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Affordable Lending

AFFORDABLE LENDING

National MI TrueGuide can help you seize significant portfolio opportunities with our Affordable Lending programs.

  • Designed for Lower Income Borrowers and Low Down Payment Purchases
  • 100% Gift Funds Allowed
  • Minimum Credit Scores as Low as 620
  • May be paired with Down Payment Assistance (DPA)
  • Up to 105% CLTV allowed per GSE guidelines
  • Reduced Mortgage Insurance Requirements = Lower Monthly Payments

AUS AFFORDABLE LENDING

OCCUPANCY LOAN PURPOSE1 PROPERTY TYPE2,3 LOAN AMOUNT4,5 MAXIMUM LTV/CLTV MINIMUM FICO6 MAXIMUM DTI7
Primary Residence Purchase or Rate/Term Refinance or Construction to Permanent1 Single Family Condo, Co-op or Manufactured Hm2 $726,2004 $1,089,3005 97% / 105% 95% / 105%95% / 95% No FICO Score76206No FICO Score7 Per AUS Approval7
Cash-Out Refinance All All Not Eligible Not Eligible Not Eligible
Purchase or Rate/Term Refinance or Construction to Permanent Two-Unit $929,8504 $1,394,7755 95% / 105% 85% / 95% 6206 Per AUS Approval7
3 - 4 Units3 $1,123,9004 95% / 105% 700
Second Home All All All Not Eligible Not Eligible Not Eligible
Investment Property All All All Not Eligible Not Eligible Not Eligible
OCCUPANCY Primary Residence
LOAN PURPOSE1 Purchase or Rate/Term Refinance or Construction to Permanent1
PROPERTY TYPE2,3 Single Family Condo, Co-op or Manufactured Hm2
LOAN AMOUNT4,5 $726,2004 | $1,089,3005
MAXIMUM LTV/CLTV 97% / 105%1 | 95% / 105% | 95% / 95%
MINIMUM FICO6 6206
MAXIMUM DTI7 Per AUS Approval7
OCCUPANCY Primary Residence
LOAN PURPOSE1 Cash-Out Refinance
PROPERTY TYPE2,3 All
LOAN AMOUNT4,5 All
MAXIMUM LTV/CLTV Not Eligible
MINIMUM FICO6 Not Eligible
MAXIMUM DTI7 Not Eligible
OCCUPANCY Primary Residence
LOAN PURPOSE1 Purchase or Rate/Term Refinance or Construction to Permanent
PROPERTY TYPE2,3 Two-Unit | 3 - 4 Units
LOAN AMOUNT4,5 $929,8504     $1,394,7755 | $1,123,9004
MAXIMUM LTV/CLTV 95%/105%     85%/95% | 95%/105%
MINIMUM FICO6 6206 | 700
MAXIMUM DTI7 Per AUS Approval7
OCCUPANCY Second Home
LOAN PURPOSE1 All
PROPERTY TYPE2,3 All
LOAN AMOUNT4,5 All
MAXIMUM LTV/CLTV Not Eligible
MINIMUM FICO6 Not Eligible
MAXIMUM DTI7 Not Eligible
OCCUPANCY Investment Property
LOAN PURPOSE1 All
PROPERTY TYPE2,3 All
LOAN AMOUNT4,5 All
MAXIMUM LTV/CLTV Not Eligible
MINIMUM FICO Not Eligible
MAXIMUM DTI7 Not Eligible
  1. 1 Construction to Permanent excludes attached condos and co-ops.
  2. 2 Manufactured home:
    • a) Must meet requirements in Section 2.2.14; and
    • b) If > 95% LTV, then limited to MH Advantage® or CHOICEHome® properties; and must be submitted to National MI for non-delegated underwriting review (ineligible for delegated underwriting).
  3. 3 Minimum 6 months reserves (PITIA) for 3-4 units.
  4. 4 Maximum loan amounts for AK and HI are $1,089,300 (1 unit), $1,394,775 (2 units), and $1,685,850 (3-4 units).
  5. 5 Available only for loan amounts eligible according to Fannie Mae high balance or Freddie Mac super conforming limits. For 2023, the GSEs have not established different high balance/super conforming amount for AK and HI. Refer to county specific loan limits to determine the maximum amount for a specific area.
  6. 6 Representative FICO using middle/lower method is required for underwriting and pricing purposes.
  7. 7 MI premium must be included in DTI for underwriting eligibility purposes and may be excluded from DTI for pricing purposes.