Prime Jumbo Offerings
Give Your Jumbo Borrowers More Options And Great Pricing
Giving your borrowers options is what brokers do best. Prime Jumbo up to 89.99% LTV and Prime Jumbo Released up to 80% LTV let you do exactly that — all while competing and winning against banks and retail lenders on desirable Jumbo loans. Both offer the ability to run DU for approved eligibility and fast closings, and each is specifically tailored to help you win more loans and better serve your borrowers.
The biggest difference? UWM won’t retain servicing on Prime Jumbo Released loans and our typical non-solicitation protection will not apply, creating a savings that you can pass along to your borrowers. Of course, UWM’s Brand 360 is always available to help you stay in front of your borrowers.
Check out the chart below to see how Prime Jumbo and Prime Jumbo Released compare.
|See The Differences|
|Prime Jumbo||Prime Jumbo Released|
|Unique to UWM||More in-line with other wholesale and retail lenders' Jumbo products|
|UWM services these loans||Loan sold immediately and can be sold multiple times to different investors|
|15- or 30-year fixed||30-year fixed|
|Competitive pricing||50-100bps better pricing than Prime Jumbo|
|Borrower Solicitation Protection||No Borrower Solicitation Protection|
|Up to 89.99% LTV||Up to 80% LTV|
|Purchases up to $3M, one appraisal required
Refinances up to $2M, one appraisal required
Refinances over $2M, two appraisals required
|For loans up to $2M, one appraisal required|
|For loans over $2M, two appraisals required|
|All other requirements are the same|
Additional Details For All Prime Jumbo And Prime Jumbo Released Loans:
- Maximum loan amount $3M
- Maximum DTI 45%
- Minimum FICO 680
- No M.I. required
- Minimum loan amount $1 over county loan limit
- Primary, second and investment properties eligible
- Available on Texas Conversion loans
- Appraisal waivers are not available
- Restricted Stock Units (RSU) income accepted
- Just run through DU, receive an Approve/Ineligible response and submit to UWM
- For loans up to $2M, no extra reserves required – reserves follow DU requirements
- For loans over $2M, 18 months of reserves required
Information is subject to change. Certain restrictions apply. Subject to borrower approval.