Skip to main content

UWM Announces the Launch of Freddie Mac’s Home Possible Program

Mar 25, 2015
United Wholesale Mortgage (UWM) has announced the availability of Freddie Mac’s new Home Possible Mortgage program

United Wholesale Mortgage (UWM) has announced the availability of Freddie Mac’s new Home Possible Mortgage program, which enables first-time homebuyers and low- to moderate-income borrowers to achieve homeownership with only a three percent downpayment. The program allows homeowners the ability to refinance up to 97 percent loan-to-value, regardless of their existing loan type.  Likewise, borrowers are able to purchase a home with as little as 3 percent down, even if they aren’t first-time home buyers. There are also no income limits for those borrowers in underserved areas.

“Freddie’s Home Possible program opens up a lot of possibilities for borrowers, real estate agents and originators when it comes to home financing needs,” said Mat Ishbia, president and CEO of UWM. “It allows our brokers and correspondents to reach more borrowers who are now eligible to refinance or purchase a new home.”

Home Possible and Home Possible Advantage are better alternatives than FHA financing for borrowers looking to purchase with a low downpayment or refinance with limited equity.

Home Possible and Home Possible Advantage Highlights:

►Freddie Mac’s conventional alternative to FHA
►Thirty-year fixed rate
Purchase and rate/term refi up to 97 percent
Refinances up to 97 percent LTV, regardless of current mortgage program
One unit, primary home only
Combines lower mortgage insurance factors with LLPA caps to minimize payment

About the author
Published
Mar 25, 2015
STRATMOR, Teraverde Deal A 'Merger Of Equals'

The recent merger of mortgage advisory firms came without the need to lay people off or make any major staffing changes.

May 23, 2024
NEXA Pays Loan Officers 100% Of Commission Splits

LOs won't pay per-file fees or other hidden fees with NEXA100, says NEXA Founder and CEO Mike Kortas.

May 22, 2024
The Right Prescription

‘Doctor Loans’ making healthy strides in Florida

May 21, 2024
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024