Conventional Loan Products

Elite MI

Elite MI combines the cheapest lender-paid mortgage insurance in the industry with some of the lowest borrower-paid pricing, which means you only have to go one place to deliver a lower payment for your 620+ FICO borrowers. And since UWM is delegated with the MI companies, you’ll save 3–7 days on every loan by eliminating the second underwrite with no overlays.

• Among the lowest mortgage insurance rates in the industry
• Instant MI saves 3-7 days on the loan process
• No overlays
• No adjustments for DTI or number of borrowers
• Starts at 620 FICO

ARMs: 5, 7 And 10 Year

Give your borrowers even lower rate options with our 5-, 7- and 10-year adjustable-rate mortgages

• Conventional Elite 5, 7, and 10 year
  • 700+ FICO, up to 80% LTV
  • Primary, second, and investment properties on purchase, rate/term and cash out refinance
  • $125,000 minimum loan amount
• Conventional 5, 7, and 10 year
  • 620+ FICO, up to 95% LTV
  • Primary, second, investment, purchase, rate/term and cash out refinance
  • One-Time Close New Construction loans available for 7 and 10 year ARMs
• Conventional Elite High Balance 5, 7, and 10 year
  • 700+ FICO, up to 80% LTV
  • Primary, second, and investment properties on purchase, rate/term and cash out refinance
  • Loan amounts from $766,550 up to county loan limit
• Conventional High Balance 5, 7, and 10 year
  • 620+ FICO, up to 95% LTV
  • Primary, second, investment properties on purchase, rate/term refinance and cash out refinance
  • Loan amounts from $766,550 up to county loan limit
  • One-Time Close New Construction loans available for 7 and 10 year ARMs
• Lender and seller paid Temporary Rate Buydowns available

HomeOne^®

Qualify more first-time homebuyers with this 3% down payment solution.

• Purchases up to 97% LTV
• No income restrictions
• Available in all geographic locations
• Eligible for single family homes, including townhouses and condos
• At least one borrower must be a first time homebuyer
• LPA only
• Available on single- and multi-wide manufactured homes with LTV up to 95%, co-ops* and PUDs
• Lender and seller paid Temporary Rate Buydowns available

*Applicable in New York only

HomeReady^®

Conventional options for borrowers looking to purchase with a low down payment or refinance with limited equity. Use the Fannie Mae Lookup Tool to see if a subject property meets the county loan limit requirement.

• Purchases up to 97% including FTHB
• Refinances serviced by FNMA eligible up to 97% LTV
• Reduced Mortgage Insurance
• High Balance available
• Income up to 80% of the AMI
• Gift funds eligible for entire down payment
• Available on single- and multi-wide manufactured homes with LTV up to 95%, condos, co-ops* and PUDs
• Lender and seller paid Temporary Rate Buydowns available

*Applicable in New York only

HomeReady^® First

Help more first-time homebuyers achieve homeownership with HomeReady First.

• Borrowers receive
  • $5,000 grant
  • Up to $500 toward a 1-year home warranty
  • Up to $500 toward appraisal costs
• Borrower’s current primary residence must be located in an eligible census tract. Click here to see the list of Metropolitan Statistical Area (MSAs)
  • To search a borrower’s current primary address and check for eligibility, click here to access our HomeReady^® First eligibility tool
• An LO Survey must be completed on each loan

Refinow^™

RefiNow lets more of your borrowers save on their monthly mortgage payments! Use it to help your homeowners who currently have a Fannie Mae-backed loan, have income at or below 100% of their area median income (AMI) limit, and can reduce their interest rate by a minimum of 50 basis points.

• Loan must be conventional and owned or securitized by Fannie Mae
• Must have a reduction in their monthly mortgage payment*
• 30-year fixed loans with an LTV up to 97%
• 620+ FICO, up to 65% DTI
• Primary residence rate/term refinance
• $500 credit from Fannie Mae if an appraisal was obtained
• Available on single- and multi-wide manufactured homes, co-ops**, condos and PUDs

*Reduction must include principal, interest and the mortgage insurance payment (if applicable).

**Applicable in New York Only

Home Possible^®

A great alternative to FHA financing for borrowers looking to purchase with a low down payment or refinance with limited equity. Use the Freddie Mac Lookup Tool to see if a subject property meets the county loan limit requirement.

• Up to 97% LTV
• 620+ FICO
• First time homebuyers, move-up borrowers and retirees
• Refinances up to 97% LTV, regardless of current mortgage program
• High Balance available
• Income up to 80% of the AMI
• Available on single- and multi-wide manufactured homes, co-ops*, condos and PUDs
• Lender and seller paid Temporary Rate Buydowns available

*Applicable in New York Only

Conventional 1% Down

Open more doors to homeownership With UWM’s Conventional 1% Down program. When income-qualified buyers put 1% down, UWM will pay an additional 2%, up to $4,000, giving them a 3% total down payment.

• For borrowers with income at or below 80% of the Area Median Income (AMI)
• 620+ FICO
• 30-year fixed loans with an LTV of 97%
• Eligible for primary purchases only
• High Balance not available
• This product will be exclusively available for LO’s who achieve PRO Elite status

Refi Possible^℠

Refi Possible helps your borrowers who currently have a Freddie Mac-backed loan save on their monthly mortgage payment. As with Fannie Mae’s RefiNow, applicants must have income at or below 100% of their area median income (AMI) and be able to reduce their interest rate by a minimum of 50 basis points.

• Loan must be conventional and owned or securitized by Freddie Mac
• Must have a reduction in their monthly mortgage payment*
• 30-year fixed loans with an LTV up to 97%
• 620+ FICO; up to 65% DTI
• $500 credit from Freddie Mac if an appraisal was obtained
• Available on single- and multi-wide manufactured homes, co-ops**, condos and PUDs

*Reduction must include principal, interest and the mortgage insurance payment (if applicable).

**Applicable in New York Only

Information subject to change. Certain restrictions apply. Subject to borrower approval.