United Wholesale Mortgage Review 2022

United Wholesale Mortgage Review 2022
Written by Publishing Team

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Good for quick closing

United wholesale mortgage lender review 2022

United wholesale mortgage lender review 2022

Editor’s points: (Unavailable)

Good for quick closing

United wholesale mortgage lender review 2022

Editor’s points: (Unavailable)

  • Minimum Credit Score:

    640 conventional and FHA, 620 VA, 680 jumbo

  • Minimum Down Payment:

    0% to 3% depending on loan type, 10% jumbo

  • It is possible to apply online:

    Depends on the lender you choose

  • work in:

    All 50 countries

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  • Purchase loans can be closed and refinanced within an average of 16 or 17 days
  • Available in all 50 states and Washington DC
  • Finance a full range of mortgages


  • Do not lend directly to borrowers
  • Working with a mortgage broker can be unnecessarily complicated

bottom line

United Wholesale Mortgage will not directly produce your home loan, but will connect you with mortgage lenders or brokers who can help you through the mortgage process. This can be a useful option if you live in an area where it is difficult to find a lender, or if you need help comparing mortgage companies and loan options.

editorial independence

As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information about our scoring methodology, click here.

The complete consolidated wholesale mortgage review

Headquartered in Pontiac, Michigan, United Wholesale Mortgage is a wholesale lender, not a direct lender. The United States does not lend directly to borrowers – instead, it finances home loans created by independent mortgage brokers across the United States. While loan terms and fees vary depending on which lender you ultimately choose, you will need to meet United’s eligibility requirements to qualify for a home loan. Here’s what to know if you’re working with one of United Wholesale’s partner lenders.

United Wholesale Mortgage: types of loans and their products

To apply for a mortgage, you’ll need to head over to and check out the lenders and mortgage brokers in your area. From there you can apply for a mortgage. Loan options depend on the lender, but the United Wholesale Corporation funds the following:

Homebuyers have the choice between getting a fixed rate mortgage, in which the price never changes, and an adjustable mortgage, which only comes at a fixed rate for a certain period of time. Once the fixed period expires, the price of ARM may go up or down based on market conditions. ARMs are financed by the United Wholesale Company on terms 5/6, 7/6 or 10/6. With 5/6 ARM, for example, the rate is fixed for the first five years and then adjusted every six months for the remainder of the loan term. There is a 1% cap on each modification.

This lender also finances mega loans, which are home loans that exceed a certain dollar amount called the matching loan limit. United Mortgage Finance will finance mega loans of up to $3 million.

United Transparency in Wholesale Mortgage

Since United Wholesale Mortgage is not originated from mortgage loans, you will not find specific information about lender fees and mortgage rates on their website. But you will find many home buying guides and calculators on the lender’s Find A Mortgage Broker website. These tools can help you estimate housing costs and understand the buying or refinancing process.

Once you start working with a lender, look for these signs that the company is beneficial and transparent:

  • The website is easy to navigate, clearly marked, and includes contact information.
  • The website includes many tools and resources—such as blog posts, videos, and calculators—to help you understand the mortgage process.
  • You can call or email a loan officer or representative to ask questions, obtain pre-approval, or initiate a loan application.
  • You can compare mortgage rates on the lender’s website or ask a representative for a customized quote.
  • Any borrowing costs you will pay must be disclosed and explained clearly by the lender. These include down payment requirements, closing costs, lender fees, and discount points. It should also help you calculate third-party fees and prepaid costs, such as homeowners insurance and property taxes.

United Wholesale Mortgage: Prices and fees

United Wholesale Mortgage does not advertise on its website the mortgage rates or lender fees you may pay at closing. But when you start working with a lender or collecting quotes, ask about the following types of fees:

United Wholesale Corporation sets minimum down payment and credit score requirements for the loans it finances, based on the mortgage program. Here’s what you may need to qualify for a United Wholesale home loan:

loan type Accurate. Balance level Accurate. push down
VA Loans 620 0%
conventional loans 640 3%
FHA Loans 640 3.5%
jumbo loans 680 10%
Source: United Wholesale Mortgage website

One of the main reasons you might want to work with a lender partner is the closing schedule. United Wholesale tends to close purchases and refinance home loans within 16 or 17 days, which is much faster than the industry standard. As of June 2021, all mortgages closed within an average of 49 days, according to ICE Mortgage Technology. A short closing schedule can help you win a bidding war for a home, if the seller wants to move quickly.

Refinance with United Wholesale Mortgage

If you have an existing mortgage, you can refinance with one of United’s wholesale partners using one of the following options:

  • cash refinancing, which allows you to take out a home loan for more than you owe, pay off your existing mortgage, and keep the extra cash. Then you’ll pay off the new, bigger loan over time and you can use the cash for any kind of expense.
  • Refinance price and term, which allows homeowners to change the terms of the loan, the interest rate, or both. This can help you save money on your monthly mortgage payments, eliminate private mortgage insurance, or speed up your payment schedule.
  • VA Refinancing LoanIRRRL), helping you refinance your existing VA loan to get a lower interest rate or switch from an adjustable rate to a fixed rate.
  • FHA Simplify Refinancing, which allows you to refinance an existing FHA loan to save money and skip a lot of paperwork normally associated with refinancing. To qualify, you will need to show an exemplary payment history on time.

United Wholesale Mortgage Compared to Other Mortgage Lenders

united wholesale Fairway Independent Mortgage Corp. New American Funding
Minimum credit score 640 for conventional loans; 680 for mega loans; 640 for FHA loans; 620 for VA loans 620 for conventional loans; 660 for mega loans; 600 FHA loans; 600 for VA loans 580
Minimum Down Payment 3% for conventional loans, 10% for jumbo, 0% for VA and USDA loans 0% to 5% 0% to 5% depending on the mortgage program
Where does the lender work? All 50 states and Washington, DC All 50 states and Washington, DC Washington DC and all states except New York and Hawaii
Main types of loans Conventional, Jumbo, VA, FHA, USDA, Adjustable Rate, Flat Rate, Refinance, Cash Out Refinance, FHA Simplify Refinance, VA IRRRL Refinance Conventional, Jumbo, VA, FHA, USDA, Various Renewal Loans, Adjustable Rate, Flat Rate, Refinance, Cash Refinance, Reverse Mortgage Loans, Home Equity Loans, Lines of Credit for Home Purchases Conventional, Jumbo, VA, FHA, USDA, Renewal Loans, Adjustable Rate, Fixed Rate, Refinance, Cash Refinance, Reverse Home Loans, Lines of Credit for Home Ownership

How to shop for the best mortgage rate

The best thing you can do is shop if you are looking to save money on a home loan. According to a Freddie Mac survey, borrowers save about $3,000 on average if they get at least five quotes.

And you may be able to save more if you negotiate. After getting quotes from multiple lenders, compare those and send the best deal to another lender. Ask them to beat the interest rate or closing costs – or both. Lenders may be willing to compete for your business, especially if you have a high credit score or a large down payment.

To see how important small differences in quotes are, take a look at an example. Let’s say you want to buy a $200,000 home with a 20% down payment and a 30-year mortgage term. You receive quotes from different lenders and use our online mortgage calculator to find out your potential savings:

Interest rate Monthly interest and principal payment Interest saved
3.5% $718
3.25% $696 $22 per month or $7,920 over the life of the loan

At a 3.5% interest rate, the monthly principal and interest payments come to $718. But with a 3.25% interest rate, you can save $22 per month in interest costs. This may not sound like much, but it adds up to $7,920 in savings over 30 years.

editorial independence

As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information about our scoring methodology, click here.

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