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mgic: MGIC Has A New Program - 03/09/11 10:40 PM
Gifts and Grants can be considered towards borrowers funds on certain 3% down conventional loans Yes, you read that right. I just got an email today from a leading mortgage insurance company that is willing to underwrite this loan. You will need at 740 or better score. But, what an opportunity. In many ways, this is like FHA, but with a little higher credit threshold. The KEY difference, besides credit score, is the lack of an upfront MI (mortgage insurance) premium and as well as a smaller required monthly premium. This product could be a game changer for the MI company and conventional … (2 comments)
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mgic: Minnesota Real Estate Market Trends From MGIC Link From Minnesota Mortgage Broker - 05/04/08 10:57 AM
We at Venture Development try and provide timely information so that you the consumer can make accurate decisions. We use various underwriting options to underwrite our files-sometimes it is with a PMI (Privated Mortgage Insurance) company. One of the biggest and most utilized is MGIC. They provide data and helpful third party information to the marketplace all the time. We consider them to be a valuable partner. Recently they provided us with the link below:
http://www.mgic.com/education/markettrend.html
This link shows what is happening in various areas. Please feel free to review our Minneapolis area as well as any other major metropolitan area of interest.
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mgic: Freddie Mac Is Making Some Changes-MN Mortgage Lender Says "Buy Now" - 02/23/08 12:29 PM
I've said it before, but it really does bear repeating once again "BUY NOW." The GSE-Government Sponsored Entities of Fannie Mae and Freddie Mac are the primary purchasers of the mortgages originated today. Some of the high loan to value loans go by the names of "My Community", "Home Possible" and the "Flex 100". There are more programs, but these are the primary one loan products. The primary two loan product is an 80/20 loans where you get an 80% first and a simulataneous 20% second for a combined total of 100%. Slight Variations include the 80/10/10, 75/25, and even 75/20/5.
Recently I've posted about the … (0 comments)
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Patti Mazzara NMLS #333279
Edina,
MN
More about me…
Venture Development Inc NMLS #373115
Address: 7300 France Ave S #410, Edina, MN, 55435
Office Phone: (952) 285-4319
Cell Phone: (612) 237-6277
Email Me
Learn about the Twin Cities real estate, minnesota real estate, minnesota home financing, minnesota mortgages, FHA, VA, Reverse Mortgages, Debt Consolidation, refinancing, first time buyer programs, interest only loans, Edina, Minneapolis and St Paul. Visit our mortgage site at http://www.ventureloanapp.com or http://www.edinamortgage.com
Patti Mazzara NMLS #333279
Venture Development NMLS #373115
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