The wholesale mortgage lender has also expanded its Conventional 1% Down product, allowing borrowers with less than 80% of the area median income (AMI) to qualify. Eligible borrowers will put down 1% of the loan towards their down payment, and UWM will then pay a 2% grant up to $4,000 for a total down payment of 3%.

“UWM continues to push the industry forward, and today’s updates are huge wins for the broker channel and consumers across the country,” said Mat Ishbia, president and CEO of UWM. “We’ve seen tremendous success with both our previous jumbo products and the initial launch of the Conventional 1% Down program. These enhancements will further expand the loan options independent mortgage brokers have access to and continue to prove that they are the best way for a consumer to get a loan.”

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