Gifts and grants can be considered borrower’s own funds for purposes of meeting MGIC’s 3% Minimum Borrower Contribution when the following requirements are met: Property is located in a Nonrestricted Market DTI 740 Loan instrument is fixed-rate/fixed-payment for at least the first 5 years Property is 1-unit Property will be a primary residence Loan has no subordinate financing or soft seconds a year ago

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