United Wholesale Mortgage (UWM) has announced that it has designed a new program that provides originators with the option for borrowers to select the amortization term that works best for their financial situation.
"What our Flex Term program achieves is to empower our originators with the ability to customize the perfect loan for their customers while avoiding resetting the mortgage clock," said Mat Ishbia, president of UWM. "We want to make our brokers as successful as possible and help borrowers obtain loans that are ideal for their personal scenario. Flex Term allows our originators to offer many of our products to borrowers that now accompanies the option to choose their desired amortization term."
UWM's Flex Term program includes the following:
►Customizable mortgage option that allows borrowers to select the loan term of their choice
►An opportunity to refinance without resetting the mortgage clock
►Eight to thirty year amortization terms made available on all fixed-rate conventional loan products
►The flexibility to combine the program with additional UWM products