In Michigan, ""United Wholesale Mortgage (UWM)"":www.uwm.com/ is adding a new mortgage loan product to its portfolio, recently announcing that the company would begin offering loans from the ""United States Department of Agriculture (USDA)"":www.usda.gov/.
[IMAGE]UWM seeks to enhance its existing government platform of ""Federal Housing Administration (FHA)"":www.fha.gov/ and ""Veterans Affairs (VA)"":www.va.gov/ loan
[COLUMN_BREAK]programs through the extension of USDA loans. The USDA products from UWM will be comprised of 30-year fixed rate, 0 percent down mortgages with finance closing costs, competitively low rates, and financed appliances with minimal restrictions.
Through its updated loan offerings, UWM hopes to give brokers another avenue to accumulate market share.
""Adding USDA to our portfolio of products gives our brokers the ability to expand their client base and capture more market share,"" said UWM's president, Mat Ishbia.
Continuing his commentary, Ishbia added, ""Our goal is to help brokers grow and maintain their business by providing them with a wide array of products and cutting edge technology.├âÔÇÜ├é┬á We want brokers across the country to think of UWM as their one-stop shop for success.""
""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,"" Ishbia noted in closing.