UWM Introduces 1% Down Payment
United Wholesale Mortgage is offering a 1% down payment product in a bid to bring in more borrowers.
The Conventional 1% Down allows buyers to pay 1% towards their new home. UWM will then pay an additional 2%, up to $4,000, for a combined 3% down payment.
“We are bringing back the Conventional 1% Down to give independent mortgage brokers a competitive edge with borrowers and real estate agents, while also helping make homeownership more affordable and accessible for borrowers across the country,” said Mat Ishbia, president and CEO of UWM.
“We’re going to continue developing products and solutions that will help get more borrowers into homes faster, easier, and cheaper, and Conventional 1% Down is a great example of…