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United Wholesale Mortgage
A top mortgage lender in terms of volume, United Wholesale Mortgage doesn’t deal directly with you as the borrower. Instead, it operates through a network of mortgage brokers, who can connect you with the lender’s extensive lineup of loan products to suit virtually every need.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Loans offered
Conventional, jumbo, FHA, VA, USDA, refinancing and more
Min. credit score required
620 for conventional loans, 660 for jumbo loans, 580 for FHA loans, 580 for VA loans, 620 for USDA loans
Nationwide availability
All U.S. states
Min. down payment
3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans
United Wholesale Mortgage
3.7
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, USDA, refinancing and more
Nationwide Availability
All U.S. states
Min. credit score required
620 for conventional loans, 660 for jumbo loans, 580 for FHA loans, 580 for VA loans, 620 for USDA loans
Wide range of mortgage options
Frequent promotions and down payment assistance initiatives
Option for closing fee as little as $350
Doesn't lend directly to borrowers
A top mortgage lender in terms of volume, United Wholesale Mortgage doesn’t deal directly with you as the borrower. Instead, it operates through a network of mortgage brokers, who can connect you with the lender’s extensive lineup of loan products to suit virtually every need.
Because it’s a wholesale lender, United Wholesale Mortgage doesn’t advertise mortgage rates on its website. (The broker you work with might, however.) The lender offers the option of a flat closing fee of $350, and charges a $68 credit check fee. It doesn’t charge an escrow waiver fee on most conventional loans. That means borrowers who choose to waive escrow (in other words, pay property taxes and insurance on their own) won’t have to pay extra to do so. In terms of affordability, UWM can help you save with its Conventional 1% Down program, which helps cover 2 percent of your down payment (up to a $4,000 limit), provided you qualify.
Brokers who work with United Wholesale Mortgage have access to many loan types, such as:
This means you might have several options to suit your credit and financial circumstances. The lender has added home equity solutions to the fold, as well: a standard line of credit and a so-called piggyback line of credit, the latter of which allows borrowers with lower down payments to obtain a purchase loan and line of credit at the same time.
United Wholesale Mortgage is a leading player in the space, with an A+ rating from the Better Business Bureau. You can’t apply directly for loans through the lender, however — you must go through a mortgage broker. While that might be less convenient, depending on the broker you work with, you might be able to get preapproved or prequalified online. Some brokers might also offer other online conveniences and resources like educational tools and paperless underwriting. The lender also offers a fee-free digital payment option.
United Wholesale Mortgage isn’t a direct-to-consumer lender, so you won’t be able to apply for a loan by calling the lender or visiting its website. To get access to its programs, you’ll need to work with a mortgage broker.
You can search brokers using MortgageMatchup.com, a directory of UWM brokers by location.
Here are some tips to prepare for applying:
Images courtesy of United Wholesale Mortgage as of 4/8/2024. Note: Depending on method of contact, your individual credit profile and other circumstances, your experience might differ.
United Wholesale Mortgage offers both rate-and-term and cash-out refinancing options. As with a home purchase loan, you’ll apply for a refinance through a broker, rather than the lender outright. This can require more legwork, as you’ll have to go through the process with an intermediary, but it can result in a more favorable refinance rate.
Typically, you’ll need at least 3 percent down for a conventional loan. United Wholesale Mortgage’s Conventional 1% Down program eliminates that requirement. If you’re eligible, you’ll only need to provide 1 percent down, while the lender provides the remaining 2 percent, up to $4,000. (That means the down payment benefit maxes out at $200,000; a borrower who takes a $400,000 loan under the program would get 1 percent of the down payment from United Wholesale Mortgage, and would need to come up with 2 percent.)
Launched in 2022, this promotion promises to drop your interest rate by half a point to a full point.
This program, started in early 2023, builds on the Game On promotion, giving mortgage brokers additional flexibility to cut rates.
United Wholesale Mortgage
Rating: 3.7 stars out of 5
3.7
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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Rating: 4.9 stars out of 5
4.9
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
|
Rating: 4.8 stars out of 5
4.8
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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Loans offered Conventional, jumbo, FHA, VA, USDA, refinancing and more |
Loans offered Conventional, jumbo, FHA, refinancing and more |
Loans offered Conventional, jumbo, FHA, VA, USDA, refinancing and more |
Min. credit score required 620 for conventional loans, 660 for jumbo loans, 580 for FHA loans, 580 for VA loans, 620 for USDA loans |
Min. credit score required 620 for conventional loans, 500 for FHA loans |
Min. credit score required 620 for conventional loans, 580 for FHA loans, 580 for VA loans |
Down payment 3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans |
Down payment 3% for conventional loans, 3.5% for FHA loans |
Down payment 3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans |
Nationwide availability All U.S. states |
Nationwide availability Available in all U.S. states except Texas |
Nationwide availability All U.S. states |
1.4
26 ratings
This lender has 22 recent reviews.
8% of customers would recommend this lender.
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To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?
Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?