10.01% Down Payment
NO Mortgage Insurance
FREE Qualification
Increase your purchase power and close sooner. Apply now for free and average 14 days or less from submission to clear to close. Available for Purchase & Refinance Loans.
BENEFITS
- Avoid monthly MI without having to put 20% down
- Lower monthly payments
- Gives Borrowers more buying power and increased flexibility
- Tax benefits
MI BUSTER PROGRAM DETAILS
- Exclusive product that eliminates monthly mortgage insurance on loans with less than 20% down.
- Conventional 30-year fixed only; Flex Term not available
- Available for primary and second home purchases and rate/term refinances
- LTV between 80.01 and 89.99%
- Up to 45% DTI
- 680+ FICO
- Loan amounts starting at $200,000
- MI Buster High Balance available for loan amounts over the county loan limits
ELIGIBILITY
- Purchases and Rate & Term Refinance
- 30 year fixed only – no flex term
- Down Payment of 10.01-19.99%
- High Balance available
- Loan amounts from $200,000 up to county limits
- Primary or Second Homes
- Only on One-Unit properties
- Up to 45% DTI (DU and LPA)
- 680+ FICO
- No appraisal waivers
- Conventional and High Balance
- Free escrow waivers
- Eligible for pricing incentives (LOPP, AE Power Play)
- Eligible for ASR free extensions (2 day & 5 day)
Data provided by United Wholesale Mortgage MI Buster Program as of February 2022. Products and availability may change without notice. Loanvana NMLS 1438783.