Will Arch MI insure loans with non-occupant co-borrowers?
Yes, Arch MI insures loans with non-occupant co-borrowers. For our Standard Underwriting Requirements, this includes 1–2 unit primary residence with a maximum 95% LTV and maximum loan amount of $970,800 ($1,243,050 for a 2-unit primary residence). Manufactured homes, 3-4 unit properties, second homes and cash-out refinances are ineligible. For more information, refer to our Underwriting Manual.
How does Arch MI qualify loans where one borrower has traditional credit, and a co-borrower does not have a credit score?-
How does Arch MI qualify loans where one borrower has traditional credit, and a co-borrower does not have a credit score?
With a valid Desktop Underwriter® (DU®) or Loan Product Advisor® (LPASM) Approval, Arch MI follows Agency requirements in accordance with our EZ DecisioningSM program, which does not have overlays specific to this area.