General World News

UWM turns to seller concessions with new mortgage product launch

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment.  

It’s a complementary product to the wholesale lender’s “Game On” initiative, a cut-rate pricing strategy devised to grow market share with purchase buyers. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

With the buydown, the borrower pays a lower mortgage rate during the first year or two details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com