Loan Guarantee Program

Say “YES” more often with the MemberClose Loan Guarantee Program

The MemberClose LGP Program allows your credit union to make more home equity loans without taking on more risk. Stop turning down qualified members strictly because they do not meet the LTV requirements of your lending program.

Loan Guarantee Program

Key Program Features

Eligible Loan Types - Fixed & HELOC
- Home Improvement
- Purchase Money 2nd
Insurer Nationwide Insurance
Maximum Loan Amount $250,000
Maximum LTV 100%
Minimum FICO 660
Max Term Closed End 20 Years
Max Term Open End 10 Year/10 Year
DTI Closed End 45%
DTI Open End 40%
Lien Position 1st or 2nd
Property Valuation Through MemberClose
Insure Lien Position Through MemberClose
Loan Reporting Excel Spreadsheet
Premium Payment Monthly ACH

This document is intended to provide a broad overview of the MemberClose Loan Guarantee Program. Please refer to the actual Policy for all terms and conditions. The program is made available exclusively to credit unions participating in MemberClose.