"Zero-Down Mortgages Return: Opportunities and Risks"
United Wholesale Mortgage (UWM) has introduced a 0% down payment mortgage program offering up to $15,000 or 3% of a home's purchase price for first-time and middle-income homebuyers. While this initiative aims to remove the barrier of down payments, it comes with risks, including the need to repay the assistance loan upon refinancing or selling the home. The program has generated significant interest, but potential buyers should carefully consider the terms and explore other mortgage options that may offer grants without repayment obligations.