The lowest down payment program offered on a conventional loan product. The 1% Down Payment Conventional Mortgage is here! Buying with a low down payment has never been easier. 1% down payment and a 2% gift from the lender gives you an immediate 3% equity position! This program is designed for those with good credit and moderate income but lacking a big down payment. Get pre-approved today in less than 5 minutes!
Unlike an FHA mortgage, this program requires less down and has an option to avoid paying monthly mortgage insurance.
- 1% down payment CAN be gifted
- 30 year fixed rate
- 2% gift from the lender does NOT need to be paid back
- No monthly mortgage insurance option
- Primary residence only (no manufactured)
- Max Loan amount of $424,100
- Max 43% DTI ratio
- 700+ FICO score
- Non-Occupying co-borrowers not allowed
- Cannot own other property
- You do not need to be a first time home buyer but there is a home buyer education class required if you are
Let’s Get Started!
Income Limits
The 1% Down Conventional Mortgage program has Income Limits which is 140% of the area median income (AMI) limit.
Click here to search the income areas using the property address. Income limits are set by census tract and address, not by the county.
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