MORTGAGE INSURANCE FICO AND LTV CRITERIA

Effective for Mortgage Insurance certificates issued on and after March 9, 2009

Eligibility criteria for obtaining Mortgage Insurance continue to change. The following is accurate as of the date of this bulletin.

To obtain Mortgage Insurance for Loans with LTV > 80%, regardless of the documentation process, the

following criteria is generally now required by the MI companies:

A credit score of 660 or greater for Full Amortization Loans

o Primary Residence or Second Home

o Purchase or Rate/term refinance

A credit score of 680 or greater for Interest-Only Loans

A credit score of 720 or greater for Cash-out Refinance Loans

A credit score of 700 or greater for Agency Jumbo Loans

In Florida, if the property is located in a declining market as designated by the MIcompanies, the property must be a detached 1-unit property.

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713