Conventional 1% Down

Our Conventional 1% Down program provides a LENDER GRANT of up to 2% to pay toward the down payment.

For borrowers with income at or below 80% Area Median Income, wanting to purchase their primary home.

HOW IT HELPS YOU

- You only have to bring in 1% down payment + closing costs

- You receive a lender grant of 2%, up to $7,000, to complete your 3% down payment requirement. 

- Lender pays for your mortgage insurance

- Get into a house sooner by reaching the down-payment savings goal faster

- More money for furniture, house repairs and maintenance

- Follows Home Possible® and HomeReady® Guidelines

BORROWER QUALIFICATIONS

- For borrowers with income at or below 80% of the Area Median Income (AMI)

- 620+ FICO

- 30-year fixed loans with a Loan to Value of 97%

- Eligible for purchases only

For questions about Conventional 1% Down or any of our down payment assistance programs, contact us!