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 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.