Wholesale lender gives brokers more options
United Wholesale Mortgage has brought back its adjustable-rate mortgage (ARM) offerings – a move that aims to give UWM partners a “competitive boost.”
“We work closely with our brokers so we can offer the right products at the right time,” said Mat Ishbia, president and CEO of UWM. “Bringing back ARMs will give brokers even more options to offer their borrowers, in addition to the speed, service and technology that only UWM can offer.”
The wholesale lender’s ARM options are available on all of UWM’s conventional products, as well as on primary, secondary and investment properties for purchases and both rate/term and cash-out refinances.
UWM’s ARM loans offerings feature:
- Fixed-rate for 5, 7 or 10 years
- LTV as high as 95%
- Rates 50 -75 bps lower than 30-year fixed
The relaunch comes on the heels of UWM’s roll-out of a new product in March. The Pontiac, Mich.-based firm released prime jumbo loans, which it claims offers “competitive rates, simplified guidelines and gives brokers the ability to run DU for approved eligibility and fast closing on loans up to $2M with an LTV up to 89.99%.”
