A program has been introduced by a mortgage insurance company that allows loan-to-value ratios as high as 100 percent for professionals — including mortgage bankers.
Behind the new product, dubbed Community Program, is Arch Mortgage Guaranty Co., according to an announcement issued Thursday by the mortgage insurer.
Two tiers of borrowers include community experts and community heroes, according to the Charlotte, North Carolina-based business. They are in jobs designated as essential community occupations.
Source: Mortgage Daily