United Wholesale Mortgage (UWM) introduces cash-out refinancing options with increased loan-to-value ratios and no requirement for mortgage insurance.

United Wholesale Mortgage (UWM) has introduced a new conventional cash-out loan product featuring a loan-to-value (LTV) ratio of nearly 90% and zero mortgage insurance requirements. This move by the Michigan-based lender comes in response to a recent decline in interest rates and heightened competition within the refinancing market.

Key points:
– UWM’s new offering allows borrowers to access up to 89.99% LTV for cash-out refinances
– The product eliminates the need for mortgage insurance, potentially saving borrowers on additional costs
– The decision to expand LTV limits reflects UWM’s strategy to remain competitive in the current market environment

You can read this full article at: https://www.housingwire.com/articles/uwm-to-offer-cash-outs-with-up-to-90-ltv-without-mortgage-insurance/(subscription required)

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