Conventional 1% Down Payment Assistance Program. This program is designed to help borrowers with down payment funds. The program does have income requirements based on 80% of the Average Medium Income for the county: https://sf.freddiemac.com/working-with-us/affordable-lending/home-possible-eligibility-map
Example: Montgomery County 80% Area Median Income: $72,640
Ready. Set. Home. Move In With 1% Down
- You put 1% down and your lender pays an additional 2%, for a total of 3% down
- Use gift funds for your entire down payment
- Keep more money in your pocket for furniture, house repairs and maintenance
HOW IT HELPS YOUR BORROWERS
- Qualify with income at or below 80% of the AMI
- Lower down payment
- Get into a house sooner by reaching the down-payment savings goal faster
- More money for furniture, house repairs and maintenance
BORROWER QUALIFICATIONS
- For borrowers with income at or below 80% of the Area Median Income (AMI)
- 620+ FICO
- 30-year fixed loans with an LTV of 97%
- Eligible for primary purchases only
Contact us today to review your loan options! We’re always here to help.
