GIVE YOUR JUMBO BORROWERS MORE OPTIONS AND GREAT PRICING
**Ask About Our 100% LTV Jumbo Cashout Refinance
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.
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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
- Available on purchases and cash-out and rate/term refinances
- Minimum loan amount $1 over county loan limit
- Primary, second and investment properties eligible
- Not available on Texas 50(a)(6) or Texas Conversion loans
- Appraisal waivers are not available on Prime Jumbo loans
- Restricted Stock Units (RSU) income accepted
- Just run through DU, receive an Approve/Ineligible response and submit to UWM
- For loans under $2M, no extra reserves required – reserves follow DU requirements
- For loans under $2M, only one appraisal required
- For loans between $2M to $3M, two appraisals and 18 months of reserves required
15 and 30-Year Fixed
| PURCHASE |
|---|
| | PRIMARY | SECOND HOME | INVESTMENT |
| Units | Max Loan Size | Max LTV/CLTV/HCLTV | Min FICO | Max LTV/CLTV/HCLTV | Min FICO | MAX LTV/CLTV/HCLTV | Min FICO |
| 1-Unit | $2,000,000 | 89.99% | 680 | 89.99% | 680 | 80% | 680 |
| $2,500,000 | 80% | 720 | 80% | 720 | 75% | 720 |
| $3,000,000 | 80% | 740 | 80% | 740 | N/A | N/A |
| 2-Unit | $2,000,000 | 84.99% | 680 | N/A | N/A | 75% | 680 |
| $2,500,000 | 75% | 720 | N/A | N/A | 70% | 720 |
| $3,000,000 | 75% | 740 | N/A | N/A | N/A | N/A |
| RATE/TERM REFINANCE |
|---|
| | PRIMARY | SECOND HOME | INVESTMENT |
| Units | Max Loan Size | Max LTV/CLTV/HCLTV | Min FICO | Max LTV/CLTV/HCLTV | Min FICO | MAX LTV/CLTV/HCLTV | Min FICO |
| 1-Unit | $2,000,000 | 89.99% | 680 | 89.99% | 680 | 75% | 680 |
| $2,500,000 | 80% | 720 | 80% | 720 | 75% | 720 |
| $3,000,000 | 80% | 740 | 80% | 740 | N/A | N/A |
| 2-Unit | $2,000,000 | 84.99% | 680 | N/A | N/A | 75% | 680 |
| $2,500,000 | 75% | 720 | N/A | N/A | 70% | 720 |
| $3,000,000 | 75% | 740 | N/A | N/A | N/A | N/A |
| CASH OUT REFINANCE |
|---|
| | PRIMARY | SECOND HOME | INVESTMENT |
| Units | Max Loan Size | Max LTV/CLTV/HCLTV | Min FICO | Max LTV/CLTV/HCLTV | Min FICO | MAX LTV/CLTV/HCLTV | Min FICO |
| 1-Unit | $2,000,000 | 89.99% | 740 | 75% | 700 | 75% | 720 |
| $2,000,000 | 80% | 680 | 75% | 700 | 70% | 700 |
| $3,000,000 | 80% | 740 | 80% | 740 | N/A | N/A |
| 2-Unit | $2,000,000 | 84.99% | 740 | N/A | N/A | 70% | 720 |
| $2,000,000 | 75% | 680 | N/A | N/A | 65% | 700 |
| $3,000,000 | 75% | 740 | N/A | N/A | N/A | N/A |
| BASIC PRODUCT PARAMETERS |
|---|
| PIW and ACE not accepted | Minimum loan amount $1 over county loan limit. Max loan amount $3,000,000 | County Loan Limits |
| DU findings of Approve/Ineligible are acceptable if due to loan amount or cash-out refinance over 80% LTV only. | 3-4 Unit properties are not permitted | Maximum Debt-to-Income ratio is determined by DU, but not to exceed 45% |
| UWM does not offer the following products: HomeStyle Renovation, Single-Close Construction to Perm, Native American Conventional Lending Initiative, High LTV Refinance, FNMA Student Loan Payoff(Cash-Out) |
Prime Jumbo Max Matrix Minimum Down 3.5% To $1.5 Million
30 Year Fixed
| PURCHASE & RATE AND TERM REFINANCE |
|---|
| Units | Max Loan Size | PRIMARY | SECOND HOME |
| Max LTV/CLTV/HCLTV | Min FICO | Months of Reserves | Max LTV/CLTV/HCLTV | Min FICO | Months of Reserves |
| 1 Unit | $1,500,000 | 80.01-96.5%1 | 720 | 24 | NA | NA | NA |
| $1,000,000 | 80% | 700 | 12 | 80% | 720 | 182 |
| $1,500,000 | 80% | 720 | 12 | 75% | 720 | 182 |
| $2,000,000 | 70% | 740 | 18 | 70% | 740 | 182 |
| $2,500,000 | 70% | 740 | 24 | 65% | 740 | 302 |
| 2 Unit | $1,500,000 | 65% | 720 | 15 | NA | NA | NA |
1 Max LTV/CLTV on condos is 85%.
| CASH OUT REFINANCE - CASH BACK UP TO $300,000 |
|---|
| Units | Max Loan Size | PRIMARY | SECOND HOME |
| Max LTV/CLTV/HCLTV | Min FICO | Months of Reserves | Max LTV/CLTV/HCLTV | Min FICO | Months of Reserves |
| 1 Unit | $1,000,000 | 70% | 700 | 12 | 70% | 740 | 182 |
| $1,500,000 | 65% | 720 | 18 | 65% | 740 | 182 |
| $2,000,000 | 60% | 740 | 18 | NA | NA | NA |
2 Reserve Requirement for second home includes subject property & primary housing PITIA
| CASH OUT REFINANCE - CASH BACK UP TO $500,000 |
|---|
| Units | Max Loan Size | PRIMARY | SECOND HOME |
| Max LTV/CLTV/HCLTV | Min FICO | Months of Reserves | Max LTV/CLTV/HCLTV | Min FICO | Months of Reserves |
| 1 Unit | $2 M - $2.5 M | 55% | 740 | 24 | NA | NA | NA |
| BASIC PRODUCT PARAMETERS |
|---|
Max Debt-to-Income ratio is determined by DU, but not to exceed 43%. LTV over 85%, DTI cannot exceed 40%
| County Loan Limit Lookup |
| UWM does not offer the following products: HomeStyle Renovation, Single-Close Construction to Perm, Native American Conventional Lending Initiative, High LTV Refinance, FNMA Student Loan Payoff(Cash-Out) | DU findings of Approve/Ineligible are acceptable |
| Reserves of six (6) months of PITIA/TIA for any REO owned must be documented in addition to the required reserves for the subject property |
| LTV 80% or less second appraisal required for loan amount greater than $1.5M. If LTV is over 80% second appraisal required for loan amount $1 M or higher |
| First Time Homebuyers: Primary Residence Transaction Only; Max loan amount $1,500,000; Additional sixteen (16) months reserves for loan amount under or equal to $1,000,000 and Twenty-four (24) months reserves for loan amount over $1,000,000 | No appraisal waivers allowed |
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