Top U.S. Mortgage Lender Offers Zero Down Mortgages
May 29, 2024 21:45:24 GMT -5
Post by PurplePuppy on May 29, 2024 21:45:24 GMT -5
2008 Part Deux...
by Anthony Scott
May 29, 2024 7:20 pm
One of the top mortgage lenders in the United States is offering a new program that allows home buyers to put zero percent down on their mortgages.
United Whole Sale Mortgage is offering a new program that will allow first-time home buyers and people earning below or at 80% of an area’s average income to put zero down on their mortgages.
In a statement to Market Watch, chief operating officer of UWM, Melinda Wilner shared, “Homeownership is something we’re very passionate about.”
Previously, UWM offered buyers a rate of as little as 1% down.
Per Zero Hedge:
Home buyers will be able to buy a home without putting any money down under a new program launched by United Wholesale Mortgage, one of the largest U.S. mortgage lenders.
The Pontiac, Mich.-based company’s new program will be available to first-time home buyers and people earning at or below 80% of an area’s median income, the company said in a press release.
UWM (UWMC) will give eligible buyers a second-lien loan of up to $15,000, in the form of down-payment assistance, for 3% of the home’s purchase price. The loan will not accrue interest or require a monthly payment.
“Homeownership is something we’re very passionate about,” Melinda Wilner, chief operating officer at UWM, told MarketWatch.
UWM isn’t the only one offering zero-down mortgages.
As The Gateway Pundit previously reported, Bank of America has offered zero-down mortgages for black and Hispanic Borrowers.