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MGIC Go! streamlined MI, expanded to more DU Approve and LP Accept loans

MGIC’s Go! program is the fastest, simplest way to get MI with DU® or LP®.

Now in addition to DU Approve/Eligible and LP Accept/Eligible loans, you can also streamline the MI process for Approve or Accept loans that receive an Ineligible AUS delivery response due to LTV or loan instrument.

With only a few Go! Overlays, (see table below) you can otherwise process and underwrite eligible loans according to AUS Findings/Feedback requirements.

Follow your findings

Follow AUS Findings/Feedback requirements for:

  • Documentation
  • Tradelines, credit history
  • Borrower contribution, including gift funds
  • Reserves
  • Other criteria

Go! Overlays

Apply the following MGIC Go! overlays1; otherwise, refer to the respective Agency seller guide for requirements not provided in the Findings/Feedback.

DU Approve/ or LP Accept/
Eligible Response Ineligible Response2
Maximum LTV/CLTV
97%/105% 97%/97%
Occupancy
Primary Residence and
Second Home
Primary Residence
Units
Primary Residence, 1 to 2 units
Second Home, 1 unit
1 unit
Maximum DTI Ratio
As allowed by DU or LP 45%
Loan Type
As allowed by DU or LP Fixed-rate or fully amortizing ARM with an initial term of 5 years or more3
Cash-Out Refinance
Maximum cash out: $150,000 Not eligible
Minimum Credit Score4
620 620

For details, see our National Underwriting Summary

1Subject to MGIC underwriter discretion
2Ineligible due to LTV or Loan Instrument
3Qualify ARMs per MGIC Underwriting Guide (UWG) section 3.06b
4The lowest of all Borrower Indicator Scores – the lower of 2 or the middle of 3 credit scores for each borrower. If any borrower has no credit score, see UWG 4.06c

DU® is a registered trademark of Fannie Mae; LP® is a registered trademark of Freddie Mac.

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