1% down to purchase a home with the lender giving you 2% down, tune in
Lender's 1% Down Payment program is designed to make homeownership more accessible for eligible first-time buyers by lowering the upfront costs typically required for a mortgage. Here's a breakdown of how the program generally works:
How It Works
1% Down from the Borrower: The borrower contributes just 1% of the home purchase price as a down payment.
2% Contribution from Lender: Lender covers an additional 2% of the down payment, allowing the borrower to start with a total of 3% equity in the home.
Eligibility: Borrowers must meet certain income and credit score requirements. The program…
The skinny
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