Lender Paid Mortgage Insurance (LPMI)
Avoid paying monthly mortgage insurance with Lender Paid MI.*
If you plan to put less than 20% down payment on your home, you could be required to pay monthly mortgage insurance. With Lender Paid MI, you can choose to have VITEK pay a lump sum up front, offset by a slightly higher interest rate, to cover your mortgage insurance and avoid paying the monthly mortgage insurance premium.
- Conventional loan with fixed interest rate
- Maximum loan-to-value of 97%*
- Conforming and high-balance loans
- Owner occupied or second homes
- Owner occupied purchase or rate and term refinances
- Minimum 680 FICO credit score on conforming loans with less than 95% loan-to-value (720 minimum FICO for loans greater than 95% up to 97% loan-to-value)
*Restrictions apply. Contact us for details. Program guideline information may change without notice. Please contact us for the latest program guidelines.