United Wholesale Mortgage (UWM) is crediting borrowers up to $600 for appraisal costs on all conventional, government and jumbo purchase loans for primary homes. This is after borrowers utilize UWM’s CD (closing docs) at Initial Underwrite process, according to a UWM press release.

The offer will last through March 31, 2022, and the credit is applicable for any AMC or through UWM Appraisal Direct.

This offering will give independent mortgage brokers a significant edge with both real estate agents and borrowers in a rising rate, purchase-focused environment. Not only will this keep money in borrowers’ pockets, but it will also help brokers gain relationships with real estate agents and increase client referrals.

“As the No.1 purchase lender in the country, we felt it was the right time to jump-start purchase season,” Mat Ishbia, president and CEO at UWM, said in the release. “Partnering with an independent mortgage broker continues to be the best choice for real estate agents and consumers, and we’re adding one more reason why with the no-cost appraisal. This tool will save homebuyers a lot of money and make the homebuying experience better for consumers and real estate agents alike.”

This announcement follows UWM’s Appraisal Direct launch, revealed in September 2021, which gave the company the ability to handle the appraisal process directly as the lender, and no longer required broker clients to utilize an Appraisal Management Company.