Troy, Mich.-based United Wholesale Mortgage (UWM) has launched its new Flex Term program.
According to the company, the new program provides originators with the option for borrowers to select the amortization term that works best for their financial situations.
UWM says the Flex Term program includes the following features:
-A customizable mortgage option that allows borrowers to select the loan term of their choice;
-An opportunity to refinance without resetting the mortgage clock;
-Eight- to 30-year amortization terms made available on all fixed-rate conventional loan products; and
-The flexibility to combine the program with additional UWM products.