United Wholesale Mortgage Announces the Addition of USDA Loans

United Wholesale Mortgage (UWM) has announced the addition of USDA (United States Department of Agriculture) loans to enhance its existing government platform of Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) loan programs. UWM is currently recognized throughout the broker community as a top government lender and one of the largest-producing wholesale lenders in the country. “Adding USDA to our portfolio of products gives our brokers the ability to expand their client base and capture more market share,” said Mat Ishbia, president of UWM. “Our goal is to help brokers grow and maintain their business by providing them with a wide array of products and cutting edge technology. We want brokers across the country to think of UWM as their one-stop shop for success.” UWM attributes their purchase volume growth to their understanding of the importance of hitting purchase contract dates for mortgage originators, borrowers and real estate agents.  “The USDA product is a substantial part of the purchase business in many areas throughout the country, and these loans offer incredible benefits to borrowers,” said Ishbia. Details of UWM’s USDA product include: A 30-year fixed rate; zero percent down; financed closing costs; competitively low rates; and financed appliances with minimal restrictions. The addition of USDA/rural development loans rounds out UWM’s profile of product offerings. Most recently UWM rolled out The Big & Easy, a true jumbo loan up to $2.5 million, and implemented HARP 2.0 with Unlimited LTV/CLTV. UWM can also assist their brokers, bankers and correspondents by providing them with a sponsored correspondent warehouse line.