Industry News

UWM Lowers FICO Requirements on Government Loans

NationalMortgageProfessional.com
Feb 09, 2018
After airing in numerous markets nationally, FindAMortgageBroker.com had in excess of 75,000 site visitors in the first 48 hours

United Wholesale Mortgage (UWM) has announced that it has lowered its minimum FICO requirement from 680 to 640 on FHA and VA Elite loans, in addition to lowering the minimum loan amounts for Elite loans from $175,000 to $125,000 with no LTV cap.
 
UWM also announced that it has lowered its minimum FICO on non-Elite FHA, VA and USDA loans from 640 to 620.
 
These changes were designed to give even more borrowers access to lower rates and faster turn times.
 
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Published
Feb 09, 2018
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