Home Mortgage Program Changes Effective March 26
To streamline programs for our lending partners and manage limited program resources, we are launching key changes to our mortgage loan programs and homebuyer education requirement.
Some of these changes are a result of feedback we received from our lending partners via the survey and other communication channels. Thank you for the helpful input!
To ensure you are up to date on all of our program changes, register for a Critical Lender Update webinar:
For help with registration, please contact Nicola Viana at 651.297.9510.
Monthly Payment Loan (MPL) Changes
Effective for existing locks, and loans locked on or after March 26, 2018:
- $15,000 maximum loan amount
- Income limit increase: Use the income limit for the first mortgage program the borrower is using. For example, for Start Up with MPL, the Start Up income limits apply. For Step Up with MPL, the Step Up income limits apply.