With the Conventional 1% Down with Equity Boost program you could buy a home for as little as one percent down.
Here's how it works:
You put 1% down.
Your lender contributes 2%.
Giving you a total of 3% equity at closing - Enough for a Conventional Loan Program.
Is this for real? Yes. Is there a catch? No. Are there some more details? Yes.
The 2% lender contribution may only be applied to the down-payment. It can't be used to pay closing costs.
The seller can still contribute to your closing costs.
The program can be available with no monthly Mortgage Insurance.
This program is available from select lenders.
You still have to meet all of the other normal lending criteria, for example: acceptable credit, sufficient income, 2-year job history, acceptable debt-to-income ratios, etc.
Minimum 700 FICO Required.
We want to help you get a mortgage! Click here to begin the application process, or click here to contact us and discuss your situation.
