1% Down Payment
If you’re looking to purchase a home, we can help you achieve your dream whether you’re buying your first home, or moving your family to a larger upgraded home. Even if you don’t have a down payment, we can help you purchase a new home today. With a 1% Down Payment Mortgage from MortgageDepot, you can be on your way to a bigger, better home sooner than you can imagine.
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 AND you can use gift funds from any source. Our lender offers you an additional 2% toward your equity at closing.
- Optional Mortgage Insurance. Unlike most FHA, VA, and high LTV conventional mortgages, the 1% mortgage is available WITHOUT a required mortgage insurance premium. Ask your loan consultant at MortgageDepot for details on how you can avoid the additional expense of mortgage insurance.
- Simple Qualifications. 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. At MortgageDepot, our loan processing and underwriting experts will help to expedite the process.
The MortgageDepot Commitment
In-house Decision Making. We use the best technology along with up-to-date underwriting guidelines and loan processing solutions to approve and finalize your loan. We’re committed to helping you become a homeowner quickly, so we offer fast, hassle-free service to every type of borrower. Personalized Loan Solutions. We offer out of the box solutions for borrowers with every credit, income, and financial situation. No matter what your situation is, a loan consultant will assess your situation and show you how you can qualify for our 1% Down Payment Loan today. Knowledgeable Professional Staff. Our loan consultants are licensed and trained professionals. They are also caring professionals who take pleasure in helping you become a homeowner.
Call MortgageDepot or request a quote now.
MortgageDepot is committed to helping more people become homeowners with an all-new 1% Down Payment Program. We offer the most competitive rates on this 30 year fixed rate mortgage program. Our loan consultants are standing by to answer all your questions about purchase loans, credit, and down payments. Let us show you how to purchase the home of your dreams today.