10% Down is the New 20% Down!
The MI Buster Program!
MI Buster eliminates the need for mortgage insurance on purchases for qualified borrowers with an LTV between 80.01 – 89.99%. This product allows more borrowers to avoid mortgage insurance with less money down (as little as 10.01%) and those savings can mean the ability to afford more homes and/or a lower monthly payment.
MI Buster is a great option for borrowers looking to purchase a primary or second home of $200,000 or more, including first-time home buyers! Plus, with MI Buster High Balance, it’s also available on loans over conforming county loan limit amounts.
MI Buster Product Summary
- Conventional 30-year fixed only, no Flex Term available
- Available for primary and second home purchases
- LTV between 80.01 and 89.99%
- Up to 45% DTI
- 680+ FICO
- Loan amounts starting at $200,000
- MI Buster High Balance is also available for loan amounts over the county loan limits
Give your qualified borrowers the ability to afford more homes or have a lower monthly payment with the purchasing power of MI Buster!