High LTV Mortgages Without Mortgage Insurance

Maine Mortgage Solutions is proud to offer an exceptional loan program that allows borrowers to finance up to 95% of their home's value without the burden of mortgage insurance (MI). Our 95% LTV No MI Program is tailored for borrowers with strong credit profiles, providing a cost-effective solution for home financing.

Program Highlights

  • High Loan-to-Value (LTV) Ratio:
    • Finance up to 95% of your home's value without requiring mortgage insurance.
  • Competitive Credit Requirements:
    • Available for borrowers with credit scores starting at 720.
  • Exclusive to Platinum Loans:
    • This program is available exclusively on platinum loans, ensuring premium benefits and terms.
  • Property Eligibility:
    • Applicable to primary single-family dwellings (SFD), condominiums, or 2-unit properties.
  • Loan Amounts:
    • Minimum loan amount of $250,000 and a maximum loan amount of $2,000,000.

Additional Program Details

  • Housing History:
    • No late payments (0x30x24) in the past 24 months.
  • Debt-to-Income (DTI) Ratio:
    • Maximum DTI of 40% for front-end and 45% for back-end ratios.
  • Bankruptcy/Foreclosure:
    • Minimum of 7 years seasoning required for any previous bankruptcy or foreclosure.
  • Reserve Requirements:
    • Minimum of 6 months' reserves required.
  • Tax Documentation:
    • Only 1 year of tax returns needed for income verification.