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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

United Wholesale Mortgage


About lender

United Wholesale Mortgage (UWM) is a lender company offering wholesale mortgage loans. United Wholesale Mortgage was founded in 1986. Its headquarters are in Pontiac, Michigan. The company provides its mortgages in 50 states, including the District of Columbia. In January 2021, UWM merged with Gores Holding and became a public company.

UWM is Better Business Bureau (BBB) accredited in 2018, and the company's business rating is A+.

United Wholesale Mortgage offers the following types of credit products:

  • Conventional loans
  • FHA loans
  • Jumbo loans
  • VA loans
  • U.S. Department of Agriculture loans
  • The program of conquest.

It is also possible to contact the company for refinancing mortgage loans.

Pros and cons


  • The average closing time at UWM is faster than at other companies. UWM takes an average of 14 days or fewer from the time of application to closing. This is a significant plus for the company, since this process takes 47 days on average in the industry.
  • The UWM conquest program. As part of this program, the company offers some of the lowest interest rates in the country. This applies not only to FHA and VA loans, but also to ordinary loans and mortgage refinancing.
  • The company requires no in-home inspection, so borrowers pay no inspection fee.
  • The ability to make payments online. When servicing your loan by UWM after closing, you have the opportunity to make payments online through the company's web portal. This saves you time and makes maintenance simple and convenient.


  • The first and main disadvantage of this company is the need to use a broker. Applying for a UWM loan requires working with a broker, and paying the broker's commission accordingly.
  • Purchasing discount points. If you want to get the company's products at lower prices, you will have to purchase discount points at closing.
  • A reasonable way to choose the best option for your situation is to study the offers of different companies. This will help you save thousands on unexpected fees, as well as gain confidence and support from professional service.

Terms and conditions

UWM offers fixed-rate mortgages. By a 15-year fixed mortgage to purchase and refinance, United Wholesale Mortgage rates will be less than 2%. If the borrower has not had any transactions with UWM in the last 18 months, then a 30-year fixed rate of 1,999% is available. When it comes to the fixed rate of Conquest for a regular 30-year loan, its size is 2.5%. Conquest VA rate is 2.25% for purchase and refinancing.

United Wholesale Mortgage issues its mortgage loans only through brokers associated with this company. Borrowers have to pay a broker commission.

The UWM company requires a prepayment fee. This means if you are ready to repay the mortgage ahead of time, you will have to pay an additional fee for this.

  1. Conventional Loans. These loans are available for primary, second and investment properties, if the borrower’s credit score is 620 or more FICO. LTV for cooperating companies can reach 97% when buying and refinancing at the rate/term. The company has many different programs for conventional loans.
  2. FHA Loans. Elite FHA loans require 640 or more FICO. The loan amounts begin from $125,000. It is possible to buy single family primary residences. Streamline FHA loans allow refinancing with no appraisal or AVM. The required credit score is 620+ FICO. It is possible to close your HUD REO in two weeks with UWM. At the same time, you should take into account that the company allows a deduction of up to $ 10,000 for repairs on escrow.
  3. USDA Loans. USDA loans require neither down payments nor cash reserves. They are 30-year fixed rates. Though, borrowers can pay closing costs on some transactions. These loans require 620 or more FICO.
  4. Jumbo loans. Prime jumbo products of the company help borrowers with different needs and circumstances. They start at $1, don’t require PMI and are available on Texas Conversion loans. Borrowers need to have a higher credit score – from 680 FICO and more for several types of jumbo loans.
  5. VA Loans. Veterans of the armed forces are eligible for VA credits. The three types of VA loans of the company have different terms and rates. These are VA loans (loans up to $2M if you have 620+Fico), VA Elite (640+FICO), and VA IRRRL (no appraisal required).

    Funding a loan

    UWM positions itself as a company that issues and finances loans faster than other lenders in this industry. But it is reasonable to compare different lenders before you choose the most convenient one. The doc-less platform of UWM allows going very fast from application to underwriting. UWM usually needs 14 days or fewer submissions to the CTC.

    UWM client service is available from 8.30 AM to 8.00 PM EST from Monday to Friday.


    Who bought United Wholesale Mortgage?

    In January 2021, United Wholesale Mortgage merged with Gores Holdings IV, resulting in the formation of a special acquisition company (SPAC). The company has since gone public.

    Is UWM a good lender?

    Yes. It is one of the leading companies in the industry. But before making your choice, compare different mortgage lenders.

    Is United Wholesale Mortgage the same as United Shore?

    Yes. The original name of the company was Shore Mortgage. United Wholesale Mortgage has been a subsidiary of United Shore Financial Services since 2002.

    Will UWM sell my mortgage?

    Yes, UWM can sell your mortgage, but they will tell you about it in advance.

    Company documents

    Terms of Use
    Privacy Policy
    Licensing Disclaimer

    Partnering with UWM means you have access to industry-leading products, tools and technology — even additional ways to save on your loans.

    © United Wholesale Mortgage

    Credit rating


    Shows the level of financial reliability of a credit company

    Fitch BB- Speculative

    The rating indicates an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time; however, business or financial flexibility exists that supports the servicing of financial commitments.

    Calculate loan payments at United Wholesale Mortgage

    United Wholesale Mortgage calculator will allow you to calculate an approximate payment schedule for the loan

    UWM calculator
    Interest rates are given in accordance with the rates of the United Wholesale Mortgage in Washington, D.C. as of 25.09.2022
    Loan amount

    Specify the desired loan amount

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    Loan term

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    What to focus on before applying for a loan with United Wholesale Mortgage

    To ensure the lender is legitimate, check if it meets the following criteria:

    How do you know if a loan company is registered?

    The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

    According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

    Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

    If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

    Finanso® also recommends

    Learn the total cost of a loan, including:

    It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

    Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

    What’s the difference between United Wholesale Mortgage and a bank?

    1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
    2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
    3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
    4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
    5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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