MGIC Go! streamlined MI
MGIC's Go! program is the fastest, simplest way to get MI with DU® or LP.®
MGIC Go! delivers streamlined MI on primary residence and second home loans that receive and are processed according to a DU Approve/Eligible or LP Accept/Eligible response.
When it comes to DTI limits or borrower's own funds, MGIC allows you to simply follow the findings/feedback you received from DU or LP.
Follow Findings/Feedback; Apply Only 3 Overlays
Follow DU® Approve/Eligible Findings or LP® Accept/Eligible Feedback and apply only the following overlays:
- Maximum LTV/CLTV: 97%/105%
- Minimum credit score: 620
- Maximum cash out: $150,000
Gifts are a Go!
MGIC's Go! program allows you to follow your Findings when it comes to source of funds and the amount of borrower's own funds required!
Other Underwriting Requirements
- Loans must follow Applying for MGIC MI requirements, see MGIC Underwriting Guide, section 2 (UWG 2)
- Information you submit to MGIC must be consistent with the final AUS response
- Lender-negotiated waivers or variances require MGIC approval, with the exception of these pre-approved programs: cooperative share loans, properties in Guam, Fannie Mae HomeStyle® Renovation Mortgages, affordable housing secondary financing
- Investment properties; 3- to 4-unit properties; condos and co-ops on MGIC’s Ineligible Projects List
- DU Refi Plus™ and LP Relief Refinance MortgageSM— Open Access loans
- Borrowers who already have the maximum number of MGIC-insured loans (UWG 4.03) or who have had a loan where MGIC paid a claim (UWG 4.06e)
DU® and HomeStyle® are registered trademarks of Fannie Mae; DU Refi PlusTM is an unregistered trademark of Fannie Mae. LP® is a registered trademark of Freddie Mac; LP Relief Refinance MortgageSM — Open Access is an unregistered service mark of Freddie Mac.