United Wholesale Mortgage (UWM) is rolling out free 1-0 temporary rate buydowns on purchase loans alongside a new suite of home equity products aimed at helping brokers retain borrowers.

Effective immediately, the lender will cover the cost of 1-0 buydowns on both conventional and government purchase mortgages, issuing a credit to fully offset the expense. The offer—available on 8- and 30-year terms—runs through June 30. 

Under a 1-0 buydown, the borrower’s payment is calculated as if the interest rate were 1 percentage point lower in the first year. UWM’s structure gives borrowers a lower first-year payment at no additional cost details ⇒

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