Does Arch MI allow state bond programs or other down payment assistance for owner-occupied 1-2 unit properties, with valid DU Findings or LPA Feedback?

Does Arch MI allow state bond programs or other down payment assistance for owner-occupied 1-2 unit properties, with valid DU Findings or LPA Feedback?
Does Arch MI allow state bond programs or other down payment assistance for owner-occupied 1-2 unit properties, with valid DU Findings or LPA Feedback?
March 30, 2018 Darren Metsker

Does Arch MI allow state bond programs or other down payment assistance for owner-occupied 1-2 unit properties, with valid DU Findings or LPA Feedback?

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Does Arch MI allow state bond programs or other down payment assistance for owner-occupied 1-2 unit properties, with valid DU Findings or LPA Feedback?

Under our EZ Decisioning/SwiftClose program, loans for 1-2 unit properties are eligible with valid DU Approve/Eligible Findings (or LPA Accept/Eligible Feedback), up to 97% LTV/105% CLTV with loan amounts up to $453,100, minimum credit score 620 and maximum 50% DTI.  If the down payment assistance is in the form of subordinate financing, it must meet Agency guidelines for Community Seconds.  Please see chapter 2 of our  Underwriting Manual for more information about the EZ Decisioning/SwiftClose program.

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