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
  • High Balance available for loan amounts over the county loan limit
  • Lender and seller paid Temporary Rate Buydowns available
  • Available on single- and multi-wide manufactured homes, co-ops*, condos, PUDs and One-Time Close New Construction loans

*Applicable in New York only

0% Down Purchase

Help more borrowers get into a home with no upfront down payment with this UWM-exclusive program. The 0% Down Purchase requires a first and second lien loan, and must follow Home Possible® guidelines.

0% Down Purchase-Home Possible®

  • 620+ FICO and must be LPA Accept and meet Home Possible guidelines
  • Minimum LTV 95%, maximum 97%
  • 3% down payment assistance up to $15,000
  • Repayable second lien
  • Eligible on primary purchases only
  • Qualifying income limited to 80% or less of Area Median Income (AMI)

Conventional Cash-Out 90

A cash-out refinance option up to 89.99% LTV with a simplified process and a competitive interest rate — all without the addition of mortgage insurance.

  • 680+ FICO
  • Loan amounts up to the conforming loan limits
  • Minimum LTV 80.01 to maximum 89.99%
  • No mortgage insurance required
  • 30-year fixed only
  • Max DTI determined by DU/LPA, but not to exceed 50%
  • If paying off first-lien mortgage, only 6 months of seasoning required
  • Primary residence 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 manufactured homes, co-ops*, condos and PUDs
  • Lender and seller paid Temporary Rate Buydowns available

*Applicable in New York only

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

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!

*Applicable in New York 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 $803,500 up to county loan limits
  • Appraisal Waivers honored
  • Underwrite to AUS findings
  • Includes convention and high balance
  • Available on co-ops*, condos and PUDs
  • Lender and seller paid Temporary Rate Buydowns available

*Applicable in New York 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
    • 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

Freddie MAC Borrowsmart℠ (30-Year Fixed)

For a limited time, help qualified buyers get up to $1,250 toward their down payment or closing costs. Available on loan imports as of June 1, 2024. Application date must be on or after June 1 to be eligible.

  • 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
  • Qualified buyers with an income above 50% but less than or equal to 80% of the AMI receive $1,250
  • Available on single- and multi-wide manufactured homes, co-ops*, condos and PUDs
  • Lender- and seller-paid Temporary Rate Buydowns available

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

*Applicable in New York Only

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® 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

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

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

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

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

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.

Texas 50 (a)(6)

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

  • 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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