Conventional Loan Products

UWM Conventional

As the #1 wholesale lender in the country, nobody does conventional loans like UWM. We combine competitive rates, groundbreaking tools and technology, and a fast, easy process to help you deliver a worry-free mortgage experience.

  • 620+ FICO
  • Primary, second and investment properties
  • Loan amounts up to county loan limit
  • Eligible for primary, second and investment properties on purchase, rate/term and cash-out refinances
  • LTV's as high as 97% on purchase and rate/term refinances
  • LTV's as high as 80% on primary home and 75% on second home and investment cash-out refinances
  • Available on single- and multi-wide, co-ops*, condos and PUDs
  • High Balance available for loan amounts over the county loan limit

*Applicable in New York (Manhattan), Kings (Brooklyn), the Bronx (the Bronx), Richmond (Staten Island ), Queens (Queens), Nassau and Westchester County, NY only.

Elite

The obvious choice for your top-tier borrowers! Comprised of some of the best conventional rates and pricing in the industry, UWM's Elite program allows you to close quickly, while generating solid referrals. 

  • 700+ FICO, up to 80% LTV
  • Loan amounts from $125,000 up to county loan limits
  • Eligible for primary, second and investment homes
  • Appraisal Waivers honored
  • Includes conventional and high balance
  • Available on single- and multi-wide, co-ops*, condos and PUDs
  • Close most loans in 18 days or less by triggering the CD at initial underwrite

*Applicable in New York (Manhattan), Kings (Brooklyn), the Bronx (the Bronx), Richmond (Staten Island ), Queens (Queens), Nassau and Westchester County, NY only.

Elite M.I.

Elite M.I. 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 640+ FICO borrowers. And since UWM is delegated with the M.I. 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 M.I. saves 3-7 days on the loan process
  • No overlays
  • No adjustments for DTI or number of borrowers
  • Starts at 640 FICO
  • Close most loans in 18 days or less by triggering the CD at initial underwrite

Flex Term

Customize the perfect loan for your borrower without resetting the mortgage clock! Flex Term provides borrowers with flexible options to select their amortization term.

  • Available on conventional, FHA and VA loan products
  • Terms available from 8–30 years

High Balance

Time is of the essence with every borrower. Don’t wait while your borrower shops around—give them the most competitive rates and close their high balance loan in record time!

  • Loan amounts from $647,200 up to county loan limit
  • LTV's as high as 90%
  • 620+ FICO
  • Available on co-ops*, condos and PUDs
  • Close most loans in 18 days or less by triggering the CD at initial underwrite

*Applicable in New York (Manhattan), Kings (Brooklyn), the Bronx (the Bronx), Richmond (Staten Island ), Queens (Queens), Nassau and Westchester County, NY only.

Elite High Balance

Elite High Balance offers some of the best conventional high balance rates and pricing for your top-tier clients. You'll receive industry-leading turn times, direct access to underwriting and award-winning technology with every loan.

  • 700+ FICO
  • Up to 80% LTV
  • Loan amounts from $647,200 up to county loan limits
  • Appraisal Waivers honored
  • Underwrite to AUS findings
  • Includes convention and high balance
  • Available on co-ops*, condos and PUDs
  • Close most loans in 18 days or less by triggering the CD at initial underwrite

*Applicable in New York (Manhattan), Kings (Brooklyn), the Bronx (the Bronx), Richmond (Staten Island ), Queens (Queens), Nassau and Westchester County, NY only.

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
  • 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 $647,200 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 $647,200 up to county loan limit

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
  • Close most loans in 18 days or less by triggering the CD at initial underwrite
  • Available on single- and multi-wide, condos and PUDs for Manufactured Homes with LTV up to 95%

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, condos and PUDs for Manufactured Homes with LTV up to 95%
  • Close most loans in 18 days or less by triggering the CD at initial underwrite

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, condos and PUDs

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

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, condos and PUDs
  • Close most loans in 18 days or less by triggering the CD at initial underwrite

Freddie MAC Borrowsmartâ„  (30-Year Fixed)

For a limited time, help qualified borrowers get up to $2,500 toward their down payment or closing costs.

  • 620+ FICO, up to 97% LTV
  • Eligible for primary purchases only
  • At least one qualifying borrower will be required to complete homebuyer counseling session through Homeownership Preservation Foundation (HPF) Process for a fee of $99
  • Qualified borrowers with an income less than or equal to 50% of the AMI receive $2,500
  • Qualified borrowers with an income between 50% and 80% of the AMI receive $1,250
  • Available on single- and multi-wide manufactured homes, condos and PUDs

Use Freddie Mac's Income and Property Eligibility Tool to confirm borrower meets AMI requirements.

Refi Possibleâ„ 

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, condos and PUDs

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

Limited Review Condos

UWM makes your condo approvals quick and easy with our limited review process. All files receiving a limited review response in AUS will only need a minimum evaluation by our condo department.

  • Available in all 50 states
  • No condo questionnaire required

TEXAS 50 (a)(6)

Cash in with UWM's Texas 50 (a)(6) product! UWM closes all Texas loans in record time.

  • Close in 18 days or less
  • Available on single- and multi-wide, condos and PUDs
  • Hassle-free with UWM’s direct communication and rapid turn times

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

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