Escrow waivers
Escrow waivers on UWM conventional loans up to 97% LTV
We believe in giving choices to borrowers so they can determine what best fits them — that’s why we allow escrow waivers (known as impound waivers in California) up to 97% LTV on most conventional loans* — with no escrow waiver fee. Waiving escrows allows your borrowers to pay their taxes and insurance on their own. And 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 account executive to learn more.
KEY FEATURES:
- No escrow waiver fee
- Eliminates initial escrow (impound) deposit
- Available on most conventional loans with up to 97% LTV*
- Available on most VA loans with up to 100% LTV*
- Option to waive taxes, insurance or both
- Escrow must be waived prior to funding
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.
Yobi Song
Loan Officer, NetLending
*Limited to below 80% LTV in NM by law.
If a first-time homebuyer is over 80% LTV (90% in CA) they can only waive escrows if their FICO is over 680.
Information subject to change. Certain restrictions apply. Subject to borrower approval.
Follow Us