1% Down Mortgage Program

It is often difficult for homebuyers to save up the 3% down payment typically required to qualify for conventional financing (3.5% for FHA financing). Those borrowers who made only the minimum down payment had the additional cost of expensive monthly mortgage insurance.

Although the 1% down mortgage program is available to all home buyers, it is not available through all lenders!

With this program, qualified borrowers need only bring 1% of the mortgage loan to the closing table. This program works by using a 2% grant (lender credit) that does not have to be repaid -even if you move or refinance.

Requirements and Benefits:

  • Minimum credit score of 700
  • Single Family Purchase Transactions only
  • Maximum Mortgage Insurance capped at 25% (standard is 35%)
  • No Reserves Required
  • Area Median Income applies to this program
  • First Time Homebuyers may be required to take Home Buyer Education
  • 30 Year fixed rate only
  • Maximum loan $424,100


Both Jackie and Robin were very helpful and always available to answer questions I had. Thank you for making this process as smooth as it could be.

Nicole S.

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