United Wholesale Mortgage (UWM) has relaunched its 1% down payment program, Conventional 1% Down, in a renewed push to grow market share and loan volume in an increasingly competitive housing market.

The program, announced on Wednesday, enables eligible borrowers to put down 1% on a home purchase, with UWM covering the remaining 2% of the standard 3% minimum down payment on a conventional loan.

This time, however, UWM is increasing its contribution cap — from up to $4,000 in its previous version of the program to a new maximum of $7,000.

In practice, UWM will contribute the lesser of 2% of details ⇒

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