One-Time Close
New Construction (OTC)
Overview
Earn New Business
Earn new business from real estate agents and builders, plus let your borrowers get the dream home they want — all with the faster, easier process UWM is known for.
The Best Part? One Closing!
Which means on interest rate (option to modify if the market improves), one down payment, one full credit report to order one appraisal.
OTC
Conventional Loans
Earn new business from real estate agents and builders, plus let your borrowers get the dream home they want — all with the faster, easier process UWM is known for. The best part? One closing! Which means on interest rate (option to modify if the market improves), one down payment, one full credit report to order one appraisal.
Monthly Payments
Interest-only monthly payments during the build period. 11-month maximum build period with 1-month modification period.
Limits
Allows loan amounts up to the conforming loan limits.
Limit
FICO 700+
LTV 95 Max
DU
Term
15-Year Fixed
30-Year Fixed
7-Year ARMs
10-Year ARMs
Purchase
Primary
Secondary
Investment
Product
High Balance
Rate & Term Refi
Conventional ARMs
OTC
VA Loans
For borrowers with income at or below 50% of the Area Median Income (AMI).
Limit
FICO 620+
LTV 100 Max
DU
Loan amounts up to $4-million
Term
30-Year Fixed
Purchase
Primary
Product
Cash-out Refinances
Conventional ARMs