Michigan Mutual, Inc. (MiMutual Mortgage)
911 Military Street, Port Huron, MI 48060
http://www.mimutual.com/
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Total loans closed with Loan Factory
18,201
Total loans closed with Loan Factory (past 12 months)
14,678
Lender overview
Basic information
Michigan Mutual, Inc. DBA MiMutual Mortgage ISAOA/ATIMA 911 Military Street Port Huron, MI 48060
Michigan Mutual, Inc. DBA MiMutual Mortgage ISAOA/ATIMA 911 Military Street Port Huron, MI 48060
Lock policies & Fees
Lock Policies
A maximum of two rate lock extensions or 30 days will be granted per loan.
Additional extensions may be granted on a case-by-case basis depending on market conditions.
Additional rate lock extensions are not available for the Jumbo loan programs. Jumbo loans will be subject to worse case pricing after the 2nd extension plus the cost of the extension.
Rate changes during the lock period are based on pricing from the original lock date.
First Extension Adjustments 2.5 bps a day up to 30 days
Second Extension Adjustments 5.0 bps a day up to 30 days
Relock – Worst Case pricing plus 10 bps
Lender's niche & Overlays
Check with AE, but we are seeing a lot of Renovation right now due to our expertise there, but also getting a lot of FHA and VA right now. No UW fee on our VA loans.
Our DPA program has a forgivable and repayable option and does not have an income requirement.
Please note we have the Freddie Choice Renovation product as well as FNMA and FHA.
Our Jumbo pricing has been great lately, but you can always price our deals on PriceQuote.
For the most part, we follow AUS. Credit scores only go down to 620 on most products, down to 600 on FHA. And watch property types—if you have anything out of the norm, please run it by your AE first.
Lender turn time
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