NO MI – NO MI – NO MI …..say that fast 3 times

Monday, October 17, 2011

The Covenant Team introduces our LIBERTY Plus Program!!!!

If you have a borrower that can’t put 20% Down and Doesn’t want to pay monthly Mortgage Insurance then you are in luck.

Here are a few of the qualifying factors:
1) Borrower needs to have a strong credit profile with higher scores
2) Max DTI of 45% with FICO scores > 740 and 41% for FICO scores < 740 3) All borrowers must meet minimum credit requirements. No Foreclosures or bankruptcies in the past 7 years 4) 5% down payment and 2 months reserves from borrowers own funds 5) 2 months reserves (PITI) are required

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