United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners.

UWM, America’s top mortgage lender, is offering Special Purpose Credit Programs (SPCP) for Fannie Mae‘s HomeReady and Freddie Mac’s BorrowSmart Geo-Target programs.

These offerings will be available in select metro areas including Detroit, Baltimore and Chicago for Freddie Mac’s BorrowSmart and Detroit, Baltimore, Chicago, Atlanta, Memphis and Philadelphia for Fannie’s HomeReady program.

The lender said qualified buyers will receive up to $10,000 toward their downpayment/closing costs with BorrowSmart Geo-Target, or $5,000 toward their downpayment/closing costs and up to $1,000 toward details ⇒

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