MGIC MI: Make it an Option
SingleFile and Standard Lender-Paid MI
MGIC lender-paid MI programs feature discounted premiums. Borrowers who qualify for SingleFileSM LPMI benefit from even lower 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:
| Nonrestricted Markets | Restricted Markets | |||
|---|---|---|---|---|
• Full Doc Only |
Maximum LTV | Minimum FICO | Maximum LTV | Minimum FICO |
| –SingleFile | 97% | 680 | 95% | 720 |
| –Standard LPMI | 97% | 680 | 95% | 680 |
| –Standard LPMI | 95% | 620 | 90% | 620 |
With SingleFile and Standard LPMI you can:
- Structure high-LTV loans
- Finance higher loan amounts
- Receive improved underwriting decisions
- Increase commissions
- Enhance your role as Trusted Advisor and differentiate yourself from your competition by broadening the options you provide borrowers
Which borrowers should consider SingleFile and Standard LPMI as an option?
- those with good credit 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
See SingleFile Investors for a list of investors offering SingleFile.
