UWM Rolls Out Construction-To-Permanent Loans
United Wholesale Mortgage (UWM) announced the rollout of their new construction-to-permanent loans, with the aim of making the mortgage process easier and more efficient for consumers. These loans, which combine the construction loan and permanent loan into one, provide benefits such as one loan origination fee and one set of closing costs. UWM also informed consumers that they have access to a wide range of construction loan options and flexible underwriting rules that could present unique opportunities and speed up the process of constructing a new home from start to finish.
The construction-to-permanent loan from UWM is designed to simplify the mortgage process for consumers by combining the construction loan and permanent loan for homebuyers. These loans allow consumers to roll closing costs and the origination fee into their mortgage and thereby take away the need to pay those fees upfront. Additionally, UWM enables customizations on the construction loan, such as customizable construction loan terms, rates and fees, and amortization terms.
UWM also offers a wide range of fixed-rate, adjustable-rate and FHA construction-to-permanent loans, allowing consumers to choose the type of loan that best suits their needs. They also offer automated underwriting to streamline the process and get borrowers pre-approved in minutes through DirectMatch. UWM additionally provides educational content for customers on the construction and renovation process, as well as tools to connect borrowers to renovation lenders and approved contractors for home improvement projects.
Overall, the construction-to-permanent loan from UWM enables consumers to save time and money on the process of building or upgrading a home. With flexible loan options, customizable features, a wide range of loan types, and easy automated underwriting, UWM allows consumers to breeze through the process of building their new home in a more efficient and cost-effective manner.
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