August 20, 2015
CUA 2015-04: Increases to Maximum Loan Amounts – Second Homes to $625,500 and 1-Unit Primary to $1,000,000
Effective August 24, 2015

Effective with mortgage applications received on or after August 24, 2015, United Guaranty is increasing the maximum loan amounts for second homes and 1-unit primary residences for loans underwritten to our standard underwriting requirements (see Section 3 of our Credit Union Underwriting Guide). Loan amounts remain unchanged for CU SwiftClose®. Please see the details below.

Second Homes

The maximum loan amount for second homes will be increased to $625,500 (previously $417,000).

1-Unit Primary Residence

The maximum loan amount for 1-unit primary residences will be increased to $1,000,000 (previously $850,000). Loan amounts $850,001 to $1,000,000 are eligible for insurance when all of the following requirements are met. Exceptions to underwriting requirements are not allowed, including the credit score and DTI ratio variances.

Occupancy Transaction Type Property Type Maximum LTV/CLTV2 Loan Amount Minimum Credit Score Maximum DTI
Primary Residence Only Purchase & Rate/Term Refinance 1-Unit, SFD/SFA, & Condos 90% $850,001–$1,000,000 740 43%
85% 700

1 See information below for first-time home buyer requirements.
2 New subordinate financing is ineligible.

Please contact your United Guaranty Account Representative if you have questions concerning this announcement. For questions regarding underwriting requirements or submissions, contact our Underwriting Customer Service Team at 877.MI.CHOICE (877.642.4642) or email UGC:customerservice.

Proprietary © United Guaranty Corporation 2015. All rights reserved. United Guaranty is a marketing term for United Guaranty Corporation and its subsidiaries. United Guaranty and CU SwiftClose are registered marks. Coverage is available through admitted company only.


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