Conventional
1% Down Program
Make homeownership more attainable with the Conventional 1% Down Program. Designed to help more borrowers achieve the dream of owning a home, this program allows qualified buyers to contribute as little as 1% down, while the lender covers an additional 2%, giving borrowers a total of 3% equity at closing.
| EXAMPLE: | |
| $350,000 | Home Sale Price |
| $3,500 | Borrower Down Payment Required |
| $10,500 | Maximum Seller Contribution |
Loan Highlights:
- Maximum Sale Price $350,000
- No First-Time Buyer Requirement
- Borrower(s) Income Less Than $81,600*. Income restrictions apply, must be below 80% of the Area Median Income (AMI)
- 620+ FICO™ Score
- 3% Seller Contributions Allowed
This program is ideal for first-time and low-to-moderate income buyers who need help overcoming the hurdle of a large down payment. Partner with a HomeRock Mortgage professional to see if you qualify!
*$81,600 Based on select Houston Area Average Median Household Income. See if property qualifies with Area Median Income (AMI)
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