Good Morning!
Things are starting to loosen up from the Mortgage Insurance companies.
We can now get Mortgage Insurance on conventional loans down to a 620 mid fico score. …and, this is for loan to value ratios up to 95%!
You still need a 680 credit score to get MI up to a 97% loan to value ratio.
One of the reasons you would opt for a conventional loan over an FHA loan is that there is no large up front pre paid mortgage insurance on conventional loans.
This will give us loan originators more options, which in turn gives you more options!
Have a safe weekend! Thanks for reading!
Brett
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