Does Arch MI insure manually underwritten cash out refinance transactions?-
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