co-borrower

  • Does Arch MI accept loans with non-occupant borrowers?

    - by Donna Malecki

    Does Arch MI accept loans with non-occupant borrowers?

    Yes.  For non-occupant borrower transactions, the loan is qualified using the income, liabilities, and assets of all borrowers.  1–2 unit primary residence only.  Maximum LTV: 95% LTV.  Maximum Loan Amount: 1-unit primary residences: $850,000. 2-unit primary residences: $679,650.   Ineligible: Manufactured homes. 3–4 unit properties. Second homes. Investment properties.

  • How do we qualify loans where one borrower has traditional credit and a co-borrower does not have a credit score?

    - by Darren Metsker

    How do we qualify loans where one borrower has traditional credit and a co-borrower does not have a credit score?

    With a valid DU® or Loan Product Advisor® (LPA) approval, Arch MI follows Agency requirements in accordance with our EZ DecisioningSM/SwiftcloseSM program, which does not have overlays specific to this area.