United Wholesale Mortgage (UWM) has expanded temporary buydown options for jumbo loans at a time when mortgage rates are still high and borrowers have increased negotiating power. UWM is one of many lenders to roll out temporary buydowns in recent months in a bid to drum up more business.
The Detroit, Michigan-headquartered lender will offer borrowers of prime jumbo loans an option to reduce their mortgage rates by 2% during the first year of the loan and by 1% in the second year with a 2-1 buydown. The other option is to lower their mortgage rate by details ⇒
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