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United Wholesale Mortgage (UWM) has announced the launch of Investor Edge, designed specifically for borrowers looking to purchase or refinance non-owner occupied investment properties. The Investor Edge program provides UWM’s broker partners with a unique opportunity to increase their businesses by catering to a niche segment of borrowers. UWM says that similar to commercial financing, there is no need to verify personal income with Investor Edge and the debt-to-income (DTI) ratio is based solely on the proposed cash flow for the subject property.
“The last few years residential investment purchase property transactions have largely been dominated by all cash investors,” said Mat Ishbia, president and CEO of UWM. “Our Investor Edge program helps level the playing field by giving investors alternative options to an all cash transaction. The launch of Investor Edge is yet another innovative product that helps our partners better compete in their local area markets.”
►Unlimited number of financed properties
►Approval based on cash flow of property
►Loan amounts from $75,000-$1 million
►FICO score of 720-plus
►Verification of employment history only
UWM’s partners can log into its EASE web portal to run product eligibility and pricing on borrowers that are a good fit for Investor Edge. The program can also be accessed by UWM’s UMobile application for Apple and Android Devices, which gives brokers real-time access to status updates, the ability to lock loans on the go, communicate with UWM underwriters, and more