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Will Arch allow a Non-Occupant borrower on a Construction to Permanent Loan?
-Will Arch allow a Non-Occupant borrower on a Construction to Permanent Loan?
Yes, Arch is happy to consider a Construction to Permanent loan with a Non-Occupant borrower on a 1-unit primary residence at 95% LTV with a maximum loan amount of $850,000. The loan is qualified using the income, liabilities, and assets of all borrowers.
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Will Arch MI insure loans with non-occupant co-borrowers?
-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.
