Escrow waivers expanded
Escrow waivers on UWM conventional loans up to 95% LTV
We've expanded our guidelines to allow escrow waivers (known as impound waivers in California) up to 95% LTV on most conventional loans — and still no escrow waiver fee. We believe in giving choices to borrowers so they can determine what best fits them. Waiving escrows allows your borrowers to pay their taxes and insurance on their own, with a lower monthly payment and less money brought to the closing table means more money in your borrower’s pocket at closing time. Talk to your UWM AE to learn more.
- No escrow waiver fee
- Eliminates initial escrow (impound) deposit
- Available on most conventional loans with a 640+ FICO up to 95% LTV
- Available on VA loans with a 620+ FICO up to 100% LTV
- Option to waive just taxes, just insurance or both
- Escrow must be waived prior to funding
*Limited to 80% LTV in NM by state law.
WHAT THEY'RE SAYING
I love being able to offer the escrow waiver option without a fee. It lowers my borrowers’ monthly payments and the amount of cash they need at closing. This is a great tool to bring in new business.
Loan Officer, NetLending