Attention Valued Brokers!
Effectively immediately – URW is pleased to announce new enhancements to our Edge Jumbo Hybrid Arms!
- Primary Residence and Second Homes now eligible!
- Minimum loan amounts as low as $500,000!
1) Arm Features include
- 5/6, 7/6 and 10/6 ARMS, fully amortizing, 30 year only
- Caps: 2/1/5 – 5/6 ARM
- Caps: 5/1/5 allowed on 7/6, 10/6 ARM
- Index: SOFR (30 Day Average)
- Margin: 2.75
- Floor: 2.75
- No Conversion Option
- Qualifying Rate:
- 5/6 ARMs qualify with the greater of the fully indexed rate or the Note rate 2%.
- URW will allow for Rebuttable Presumption (HPCT) on 5/6 ARMS. Note: Rebuttable Presumption = APR less than or equal to 2.25% above the applicable APOR.
- 7/6, 10/6 ARMS qualify with the greater of the fully indexed rate or the Note rate.
2) Max DTI for all ARM loans is 43%.
3) No exceptions are permitted on ARMs.
4) Primary Residence and Second Homes.
5) NOTE: ARMs not available on Edge 90, Edge AUS, or Edge Agency.
6) Minimum loan amounts as low as $500,000.