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I have some great news to kick off the week: the highly popular 1-0 Buydown program has been officially extended through August 31st! Please note that while it is no longer entirely free, it now costs just a minimal 25 bps (0.25 points). This remains an incredible tool for helping your buyers significantly lower their initial monthly payments in today's market.
Regarding current rate trends, primary residence mortgage rates remain largely unchanged from last week, though we are seeing other loan product types edge slightly higher. Looking at the broader economy, last Thursday’s weaker-than-expected jobs report has strongly reinforced market expectations that the Fed may lean toward cutting rates or pausing further tightening. All eyes are now on this Wednesday's release of the Fed meeting minutes, which should provide much clearer clues regarding the central bank's next moves.
Additionally, this Friday morning at 10:00 AM PST, UWM is hosting an exclusive English webinar on One-Time Close (OTC) Construction Loans. This session will provide an in-depth look at how buyers can use this single-close financing option to build a custom home, covering the entire pipeline from land acquisition to final completion, as well as key underwriting guidelines. For agents looking to expand into the new construction market and capture premium builder or buyer business, this is a phenomenal learning opportunity. Since the webinar will be conducted entirely in English, please feel free to call or reply directly to this email to request the Zoom link.
New Product Spotlight | Rural Residential Loan
Have you recently encountered clients wishing to purchase rural properties, large acreage estates, horse ranches, livestock farms, hobby farms, or properties featuring barns and stables? Because of the expansive acreage or unique usage, these properties often fail to meet conventional underwriting standards, leaving buyers with limited financing options.
To bridge this gap, we have launched our Rural Residential Loan program, specifically engineered for non-traditional rural properties.
Key Highlights of the Program:
Flexible Acreage & Property Use: Supports up to 160 acres, including pastures and agricultural land. It also permits outbuildings like barns, stables, and livestock facilities.
Favorable Income & Tax Guidelines: Accepts Schedule F agricultural income and supports properties with active Agricultural Exemptions.
Lenient Value Distribution: The primary residential home only needs to account for at least 30% of the overall property appraisal value—a significantly lower threshold than conventional guidelines require.
If you have clients searching for rural homes, hobby farms, or other unique properties, please feel free to reach out. I would be delighted to structure a financing strategy to help them secure an approval and successfully close deals that might otherwise hit a wall.
Wishing everyone a highly productive and successful week ahead!
