Does Arch MI insure manually underwritten cash out refinance transactions?

Does Arch MI insure manually underwritten cash out refinance transactions?
May 11, 2018 Donna Malecki

Does Arch MI insure manually underwritten cash out refinance transactions?

Yes!  Our Standard program allows manually underwritten cash-out refinances for primary residence 1-unit properties, up to 95% LTV with minimum 660 score.  Maximum loan amount is $679,650 and DTI may not exceed 45%; the maximum amount of cash out varies by LTV.  The following are ineligible for a cash-out refinance transaction:  Construction-to-permanent loans; Renovation mortgages; loans with new subordinate financing; properties purchased or listed for sale in the last 6 months;  manufactured homes;  non-traditional credit.  Additional guidelines apply and are available in our Guideline Manual:  https://mi.archcapgroup.com/Portals/1/Documents/Guidelines/ArchMI_UWManual_NR.pdf

Last Updated On May 11, 2018