Expanding Markets Products
Situation: your borrower is a promising prospect, but does not meet standard lender requirements.
PMI solution: from borrowers with nontraditional credit histories and low to moderate incomes to the self-employed, PMI offers a range of innovative and affordable programs to expand your customer base and increase revenue potential:
PMI Affordable
The pmiAFFORDABLE program is an affordable housing product for low- to moderate-income borrowers who may not have established traditional credit, but can demonstrate the willingness and the capacity to repay debt yet lack the cash typically needed for the down payment and/or closing costs.
PMI Affordable Product Guidelines. [PDF]
Fannie Mae Products & Programs
PMI works closely with Fannie Mae to increase the availability and affordability of mortgage funds for housing for low- to middle-income borrowers. View MyCommunityMortgage® Suite of Products.
Freddie Mac Products & Programs
PMI works closely with Freddie Mac to extend the opportunity of homeownership to a broader range of borrowers.
- Affordable Merit Rate® Mortgage provides lower-cost options to borrowers with less developed credit histories.
- HomePossible Suite of Products offers the flexibility to boost the homebuying power of teachers, firefighters, law enforcement and healthcare workers, and members of the U.S. Armed Forces.
