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Mortgage Investors Group (MIG) is a direct mortgage lender that offers in-house processing and is willing to work with bad credit. But unless you live in select states in the Southeast or Midwest, you won’t be able to apply.
Conventional: 620
Minimum credit score
3%
Minimum down payment (Conventional)
Only available in: AL, AR, FL, GA, KY, MO, MS, NC, SC, TN
State availability
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, Home Equity/HELOC, Reverse, Refinance |
---|---|
Minimum credit score | Conventional: 620 |
Minimum down payment (Conventional) | 3% |
State availability | Only available in: AL, AR, FL, GA, KY, MO, MS, NC, SC, TN |
NMLS # | 34391 |
Review by
Kat Aoki is a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time.
If you prefer a lender with a range of first-time homebuyer programs and excellent customer reviews, Mortgage Investors Group may be worth considering. However, the company doesn’t advertise its rates or fees online. And you must fill out a lengthy application online to get a rate quote, which can take up to a day to receive. We recommend calling the company to speak with a loan officer for possibly faster service.
Mortgage Investors Group is not currently available on Finder
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To apply for a loan, contact the company or start an online application from the website.
Basic eligibility for a Mortgage Investors Group loan includes:
Here’s a list of Mortgage Investors Group’s standard documentation requirements for all borrowers.
While not listed online, you can expect to pay about 2% to 5% of your home’s total price in fees, including application, origination and third-party fees.
To apply for a mortgage with Mortgage Investors Group, either call the company or start an online application. To start an online application, here’s what you need to do.
Mortgage Investors Group also offers these specialized types of mortgages:
Note: MIG lists the Home Affordable Refinance Program (HARP) on its website, but this program ended on December 31, 2018.
Compared to other lenders, Mortgage Investors Group offers an above-average selection of mortgage types, including first-time and state-specific homebuyer programs and mortgage refinancing. While the bank has great ratings from past customers, the online application feels overly cumbersome, and a rate quote can take up to 24 hours to receive.
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As of April 2022, Mortgage Investors Group has a 4.97 out of 5 rating on Zillow from nearly 2,600 customers, who report being thrilled with the helpfulness, efficiency and communication of their loan officers. Mortgage Investors Group is accredited by the Better Business Bureau (BBB) and has had only one complaint registered in the past three years.
Founded in 1989, Mortgage Investors Group (MIG) helps borrowers in the Southeast and Midwest achieve their goals of homeownership. The company offers on-site underwriting, processing and appraisal services and has nearly 400 employees in 29 branch locations across 10 states. Since 2003, MIG has been the Tennessee Housing Development Agency’s (THDA) top lender.