Purchase
Are you dreaming of owning a home but struggling to save for a down payment? UWM’s exclusive 0% Down Purchase program might be the perfect solution for you. This program is designed to make homeownership more accessible by offering down payment assistance with no required monthly payments on the second lien. Let’s explore how this program works and why it could be a game-changer for your home-buying journey.
What is the 0% Down Purchase Program?
The 0% Down Purchase program provides a 3% loan (up to $15,000) from UWM to help cover your down payment. This second lien does not accrue interest and has no required monthly payments. The second lien is due as a balloon payment when you refinance, pay off your first mortgage, or make the final payment on your primary loan.
Buying your first home is an exciting time! It’s a time when you’ll be making one of the biggest financial decisions of your life. That’s why it’s important to work with a team that can help you navigate the process and make sure you’re getting the right loan for your needs.
We are dedicated to helping first-time home buyers. We’ll work with you to understand your unique situation and develop a loan program that meets your needs. We’re committed to helping you.
First-time buyers understandably have questions and concerns about the home-buying process. Our goal is to educate you on the process and help you make informed decisions. We want you to feel confident about your purchase, and we’ll be with you every step of the way.
Understanding Your Credit Score and What It Means for Your Loan Options
Credit scores range from 300 to 850. The higher your score, the better your chances of getting a loan with a good interest rate. If your score is low, we can guide you on how to improve it. Your credit score is based on your credit history, which tracks your borrowing and repayment habits. Since your score plays a big role in your loan terms, it’s essential to understand it before you start the home-buying process.
What is an FHA Loan?
Did you know that the U.S. Federal Housing Administration (FHA) is the world’s largest residential mortgage insurer? FHA loans are insured by the FHA and enable lenders, like banks, credit unions, and private mortgage companies. to fund home purchase loans with low down payment requirements. FHA home loan borrowers are responsible for paying the premiums associated with that insurance. With an FHA loan, qualified buyers can purchase new homes with as little as a 3.5% down payment.
An FHA home loan allows qualified applicants to buy a home with more flexible and less stringent financial requirements (debt status, credit score, down payment) as compared to conventional loans.
Are you a veteran or active-duty service member planning to buy a home? If so, you may qualify for a VA Home Loan.
Loans for Veterans and Active Duty Service Members
Buying a home is a major decision, whether it’s your first time or you’re downsizing. The process can feel overwhelming, especially if you’re a veteran or active-duty military member. Thankfully, the government offers several programs to make homeownership more accessible and affordable for those who have served. One of the most valuable options available is the VA Home Loan.
What is a VA Home Loan?
A VA home loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA backs these loans, which are made by private lenders (banks, savings and loans, or mortgage companies) to veterans, active military personnel, and military spouses who qualify.
The United States government created the VA Loan in 1944 to help returning service members purchase homes without needing a down payment or excellent credit. This historic loan program has helped more than 23 million veterans, active duty military members, and their families purchase or refinance a home.
Only about 24% of veterans take advantage of their VA benefits to buy a home—that’s far too few. Let’s work together to raise that number by spreading the word and helping more veterans access this valuable resource.
USDA Loans: Enjoy the Benefits of 0% Down
Buying a home with little or no down payment can open doors for buyers who might otherwise struggle to become homeowners. USDA Loans are a great option for this, as they allow for 0% down payment. However, these loans are specifically available for properties in rural areas, making them an excellent choice for those looking to invest in more rural or suburban locations. By reducing the upfront costs, USDA Loans make it easier for individuals to achieve homeownership even in areas that may otherwise be overlooked.
In today’s fast-paced real estate market, finding the perfect home can sometimes feel like searching for a needle in a haystack. Many aspiring homeowners may find that their dream property is just out of reach due to the need for significant repairs or renovations. This is where a Rehab Loan, offered by experienced mortgage professionals, can make all the difference.
What is a Rehab Loan or FHA 203(k) loan?
A Rehab Loan, also known as a renovation loan, is a specialized financial product that helps buyers purchase and renovate properties needing significant repairs. This loan covers both the cost of buying the property and the expenses for its renovation. Essentially, a Rehab Loan allows buyers to invest in homes with great potential that might otherwise be overlooked due to their current condition.
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Want lower mortgage payments? A seller-paid buydown might be just what you need!
A seller-paid buydown can offer more value than negotiating a lower purchase price. With a 2-1 buydown, for example, you could save over $200 per month on your mortgage payments. This strategy provides more immediate financial relief, making homeownership more affordable and manageable from day one.
Not ready for a sizable down payment?
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Dive into the DSCR home loans designed for savvy investors.
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Turn that fixer-upper into a dream home with our Fix & Flip home loans.
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Jumbo Homes Loans may make high-end home purchases possible.
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Mortgage Loan Programs for Vacation and Investment Homes
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Can your bank statements help you secure a home loan?
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Transition seamlessly with a bridge home loan tailored for you.
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Ready to build your dream home? Explore our construction home loans.
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Discover the potential of your home equity with a HELOC home loan.
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Secure your retirement with a reverse mortgage. Learn how!
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Refinance
Wanting to pay less in interest on your mortgage and lower your monthly payments?
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A cash-out refinance is a type of mortgage refinance that allows homeowners to take out a new mortgage for more than their existing mortgage balance, and then receive the difference in cash.
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VA Loan Refinance Options
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Get started today!
Fill out the questionnaire on this page to start a discussion about your mortgage needs today!