Union Home Mortgage

Basic information

QM program

• Conventional
• Home One
• Home Ready
• Home Possible
• FHA
• FHA Streamline
• FHA 203(k)
• VA
• VA IRRRL
• VA High Balance
• VA Jumbo
• USDA
• USDA Streamline

Loss payee

Union Home Mortgage Corp. ISAOA/ATIMA, PO Box 7115, Troy, MI 48007

CPL or subordinate clause

Union Home Mortgage Corp., ISAOA/ATIMA 8241 Dow Circle West Strongsville, OH, 44136 Loan #

Lock policies & fees

Lock policies

Lock extension

3 days: 0.075 7 days: 0.175 10 days: 0.250 15 days: 0.375 20 days: 0.500 30 days: 0.750

Relock

Worst case pricing

Lock & Shop

No

Lender's niche & overlays

Lender's niche

No-Score VA IRRRL & FHA Streamline (use 680 FICO)

Strong FHA & VA purchase pricing

Very strong 15 & 20 year conventional pricing

Min FICO for Conventional is per AUS

Buydowns and Custom Term Amortization (8-29 years) available

Min FICO 600 for Non-QM products

Non-QM Bank Statement program up to 90% LTV <= $3 Million

Non-QM Bank Statement & DSCR ($50,000 min loan)

Allow non-warrantable condos and condotels on non-QM.

Heloc can provide offers back within minutes up to $750,000. Texas Heloc is available

Heloc can be used as a Bridge Loan

Jumbo program up to 90% LTV <= $3.5 Million

Very strong at tougher Government Loans (FHA /US & USDA), scores down to 500 (with Approve/Eligible AUS) and 580 for manual underwrites with no hit to pricing.

VA Joint Loans available

Single Unit Approvals available for FHA Loans

Very good at manufactured homes (double /singlewides) and condos. We will gather the condo documents for you with no additional charge.

Conventional escrow waiver up to 95% LTV (limitations apply)

Allow lender credit to cover BPC.

Quick lock allows to lock before submitting a full file. 

Overnight and weekend price protection provided by UHM

180 days lock term available

EPO waived / Negotiable available

EPO period is 5 months for regular programs and 3 months for Heloc

We put your company name on the mortgage statement to the borrower

Lender's overlays

Overlays

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

1

Initial CD (days)

1

Reviews