Mortgage Insurance Company Guideline Websites

[ShanetheMortgageMan]

When qualifying for a conventional mortgage, you not only need to meet the loan program guideline requirements, but if your down payment is less than 20% (and you aren't getting a 2nd mortgage for the mortgage amount exceeding 80% of the purchase price/appraised value) then you need to get mortgage insurance.  Mortgage insurance guidelines have been changing pretty often, earlier this year changes happened almost every week, but lately it seems like it's only been once or twice a month.  In 2007 and before, they changed once every 6-12 months.  It's good to know what type of mortgage insurance companies are out there and what their requirements are, so you can have some goals to reach (if you are not already there).  Below are links to the major mortgage insurance providers websites where you can download guidelines (most are in .pdf format) and find rates so you can calculate how much your mortgage insurance would be (it's not an easy process, but not too complicated).

PMI: https://www.e-pmi.com/pmib/MIOrigination/GetRateServlet

RMIC: http://www.rmic.com/Pages/default.aspx

Genworth: http://mortgageinsurance.genworth.com/RatesAndGuidelines/RateCards.aspx

MGIC: http://www.mgic.com/rates/rates.html
Radian: http://www.radianmi.com/mortgage/rates.aspx

AIG: https://www.ugcorp.com/mirates.html

Triad: http://www.tgic.com/

Message Edited by ShanetheMortgageMan on 07-12-2008 11:58 AM