United Wholesale Mortgage adds 1% down payment loan
By: Brad Finkelstein | Published: 2025-06-12 20:40:00 | Source: www.nationalmortgagenews.com
United Wholesale Mortgage is bringing back a conventional purchase mortgage in which the borrower only has to come up with a 1% down payment.
A previous version of the product was last offered in May 2024.
With this iteration, the mortgage is available up to the conforming loan limit for buyers at or below 80% of the area median income with a credit score of 620 or above. While the product has a loan-to-value ratio of 97%, the remaining 2%, up to $7,000, is being contributed by UWM as part of a down payment assistance program. UWM does not have an end date for this program at this time.
Underwriting follows Fannie Mae HomeReady or Freddie Mac Home Possible guidelines and thus needs to meet Desktop Underwriter or Loan Product Advisor eligibility.
In the past version,
