A broker-first comparison of DEFY Wholesale and UWM for investor business purpose DSCR and Non-QM files. DEFY facts are published program data; UWM's terms are for you to confirm with UWM.
DEFY Wholesale is a wholesale-only lender: we work through licensed mortgage brokers and third-party originators, never around them. That shapes everything. Pricing comes to you, the file stays yours, and your borrower never gets a retail call from us. We write investor business purpose loans in 39 states and are licensed under NMLS #2383214.
UWM operates differently, and the right answer depends on your deal. Compare on the things that actually move a file: whether the lender runs a retail channel that competes with you, how investor business-purpose income is calculated, which property types clear underwriting, and how fast conditions get cleared by a human. We do not publish UWM's guidelines, pricing or turn times here, so confirm each of those with UWM directly before you place a loan.
Many brokers keep one lender for the files that fit one box and a second for the files that do not. DEFY is built for the second group: investor DSCR with no income or employment verification, self-employed borrowers on bank statements, P&L only or 1099, and Foreign National and ITIN borrowers.
DEFY figures come from our published program data at /programs and /api/programs.json. UWM cells read "Confirm with lender" because we never estimate another lender's terms.
| Program | DEFY Wholesale | UWM |
|---|---|---|
| Investor DSCR (1-4 unit) | Min FICO 640. Loans up to $2.5M. Up to 80% LTV on purchase and cash-out (cash-out at 80% requires 720+). Min DSCR 0.750. 30 and 15-year fixed, 30-year with a 10-year interest-only period. | Confirm with lender |
| Short-term rental DSCR | Min FICO 640. Loans $150K to $3.5M. Up to 85% LTV on purchase, 80% on cash-out. DSCR allowed down to 0.50 (No Ratio). Short-term rental income by AirDNA or 12-month history. 30-year and 40-year fixed, 30/40-year interest-only. | Confirm with lender |
| Non-QM for self-employed borrowers | Min FICO 660. Loans up to $10M. Up to 90% LTV on purchase with no MI, cash-out up to 80%. Bank statement, P&L only, 1099 and asset inclusion. DTI up to 50% (55% on a primary with compensating factors). 40-year fixed and 40-year interest-only. | Confirm with lender |
| 5-9 unit and mixed-use | Min FICO 700. Loans up to $2.5M. Up to 75% LTV on purchase, 70% on cash-out. DSCR of 1.150 or better. Investment, business purpose only. LLC vesting with a personal guarantor. | Confirm with lender |
| Foreign National | No credit report. DSCR cash-flow qualification at 0.750 or better. Loans up to $3M, up to 75% LTV. Foreign assets accepted. First-time investors allowed. | Confirm with lender |
| ITIN | Min FICO 660. Loans up to $1.5M. 80% LTV on purchase, 75% on cash-out. Full doc and alt doc. Primary, second home and investment. Max DTI 50%. | Confirm with lender |
| Blanket loans | Min FICO 660. 3 to 25 properties on one note. Loans $150K to $3.5M. Up to 80% LTV. Portfolio DSCR of 1.10x or better. Investment, business purpose only. | Confirm with lender |
| Second mortgages | Investor DSCR 2nd: min FICO 680, up to $500K, 80% CLTV. Smart Equity 2nd (bank statement or P&L only): min FICO 660, up to $1M, 90% CLTV. | Confirm with lender |
No. DEFY Wholesale works exclusively with licensed mortgage brokers and third-party originators and has no retail channel, so a borrower you bring to us stays your borrower. Ask UWM how its own channels are structured and get the answer in writing.
DEFY Wholesale offers investor business purpose lending in 39 states. Primary and second home transactions are limited to AL, CA, CO, FL, GA, TN and TX. Ineligible states are AK, AZ, ID, MN, MT, ND, NV, SD, OR, UT, VT and DC. Check the lending area map before you quote a property.
Start with the programs that match your pipeline: investor DSCR, short-term rental DSCR, Non-QM for self-employed borrowers (bank statement, P&L only, 1099, asset inclusion), Foreign National, ITIN, 5-9 unit and mixed-use, blanket loans and second mortgages. Every program is published in full at /programs and in /api/programs.json.
No. This page does not state or estimate UWM's terms. Confirm UWM's current pricing and guidelines directly with UWM, then price the same scenario in PriceIQ and compare price, conditions and time to decision.
Apply at /get-approved. Most partners are approved in as fast as 24 hours after submitting the broker package, with no minimum volume and no commitment. You can price scenarios in PriceIQ with guest access before you are approved.
When the borrower qualifies on rental cash flow instead of personal income, when self-employment makes tax returns understate income, or when the borrower is a foreign national or ITIN holder. Those are the files DEFY programs are written for.
Become an approved broker | Talk to our team | Lending area map
Defy Wholesale works with licensed mortgage professionals only and offers investor business purpose lending in 39 states. NMLS #2383214.
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