CALIFORNIA 1 PERCENT DOWN MORTGAGE LOAN PROGRAM

 

FREE 2% GIFT MONEY TOWARDS DOWN PAYMENT

 

 

Move in With Just 1% Down!

 

Program highlights include:

  • We have BOTH Fannie and Freddie‘s programs!  (Freddie allows for higher income levels for qualifying)
  • Borrower(s) puts down 1% (can be a gift), lender contributes 2% toward down payment (no re-payment or monthly payment required), giving you 3% equity at closing
  • Priced out as a 30 year conventional 3% down loan, NO extra hits for only 1% down
  • Closing costs can be a gift as well
  • Max Purchase price $437,200
  • Max loan amount of $424,100
  • Owner Occupied 1 unit ONLY
  • PURCHASES ONLY
  • 720+ FICO score
  • 50% Max debt to income ratio – must get accept eligible from Fannie and Freddie
  • Available with NO monthly mortgage insurance
  • NO non occupying co-borrowers
  • NO late payments in the last 12 months on credit report
  • Can’t own ANY other properties

 

Qualifying Income Limits:

These are both income qualifying programs.  Some areas of EVERY county have NO income limits.  You can check by the address of the property you are wanting to buy.  Income limits are set by census tract and address, NOT by the county. 

Freddie – California Income Limits are 140% of the area median income (AMI).

Fannie –  Click here for Fannie income limits – 100% of AMI

Income from a non-borrowing spouse does not count when determining program eligibility and income cap limit.

For more information visit 1PercentDownMortgageLoan.com

 

Make Home Ownership Even Easier with the Conventional 1% Down Mortgage Loan!