The 1% Down Payment Mortgage is best for borrowers with a 700+ credit score and a maximum 43% debt-to-income ratio who meet the Home Possible area median income (AMI) requirements. Fast Closing. With the easy guidelines that the 1% down payment program offers, your loan can close in less than 30 days.
If either of these options don’t work for you, the maximum down payment you’d be required to make on a primary property with a conventional loan is 5% down. In order to qualify for any conventional loan, your FICO Score should be 620 or higher.
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The advantages of our 1% Down Payment Mortgage include: Low Down Payment, Flexible Sources. You’ll only need 1% of your purchase price as a down payment, Optional Mortgage Insurance. Unlike most FHA, VA, and high LTV conventional mortgages, Simple Qualifications. The 1% Down Payment.
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Do you think you don’t have the cash to make a down payment to purchase a home? How does a 1% down payment sound? Learn about conventional 1% down program.
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The advantages of our 1% Down Payment mortgage include: optional Mortgage Insurance. Unlike most FHA, VA, and high LTV conventional mortgages, Simple Qualifications. The 1% Down Payment Mortgage is best for borrowers with a 700+ credit score. Fast Closing. With the easy guidelines that the.
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