Closing Complex Loans Faster With a Digitized Client Workflow

Join us for a discussion on changes in market demographics, suppliers and how focusing on customer experience and a few simple steps during the mortgage loan process can close deals 3x faster.

engage.marketing event: All eyes on purchase

To help power your business forward, we’re bringing together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set leaders apart.

Home appraisal’s ugly history and uncertain future

This is Part I of a deep dive into the home appraisal industry. Today we explore the origins of the appraisal industry and its current lack of diversity.

The digital journey starts at acquisition

Download this white paper for a playbook for building a tech-enabled acquisition strategy that will directly contribute to a lender’s ability to maximize future profitability and remain competitive.

Mortgage

UWM now offering 15-year fixed mortgage rates as low as 1.875%

Record-low interest rate

This story was updated post-publication to include additional information from UWM

Mortgage rates for a 15-year fixed currently sit at approximately 2.5%. However, customers of the nation’s second-biggest lender could soon receive an interest rate below 2%.

United Wholesale Mortgage announced Friday that it is rolling out a new loan program that offers borrowers an interest rate as low as 1.875% for both purchase mortgages and refinances — a record low.

UWM is both the nation’s biggest purchase mortgage lender and the largest wholesale lender, meaning it doesn’t lend directly to borrowers. UWM works directly with mortgage brokers, who can in turn offer low rates to their customers.

“United Wholesale Mortgage is proud to provide some of the best rates, service and technology to borrowers exclusively through independent mortgage brokers while closing loans in 15 days or less,” said Mat Ishbia, president and CEO. “We’re proud to offer great rates for borrowers for 15-year mortgages just like we have been on our 30-year mortgages as well.”

Those eligible for a conventional mortgage are eligible for the rate, according to Ishbia. The minimum FICO score is 640, the company said.

In May, UWM rolled out a new loan program that offered borrowers an interest rate as low as 2.5% for both purchase mortgages and refinances.

Then in June, UWM announced a new VA loan program that offered borrowers mortgage rates as low as 2.25% for both purchases and refinances.

Be sure to check out our follow-up to this piece: Making sense of ultra-low mortgage rates.

Leave a comment

Most Popular Articles

Fannie Mae, and the housing market’s inflation problem

Another month of steadily increasing home prices and insatiable demand led Fannie Mae’s Economic and Strategic Research Group to alter many of its 2021 predictions – in particular, its outlook on the symbiotic relationship between the housing market and inflation measures.

Jun 16, 2021 By

Latest Articles

House flipping hits lowest level since 2000

Only 2.7% of all home sales in the first quarter of 2021 were flipped — or one in 37 transactions, the lowest level since 2000.

Jun 18, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please