CALIFORNIA 1 PERCENT DOWN MORTGAGE LOAN PROGRAM

FREE 2% GIFT MONEY TOWARDS DOWN PAYMENT

 

 

Move in With Just 1% Down!

 

Program highlights include:

  • 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 loan amount of $424,100
  • Owner Occupied 1 unit ONLY
  • PURCHASES ONLY
  • 700+ FICO score
  • 43% Max Ddebt to income ratio
  • 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:

Max income for most borrower(s) in San Diego County $102,900, Orange County $94,080, Riverside County NO INCOME LIMITS, San Bernardino County NO INCOME LIMITS, Los Angeles County $94,080 (2016 figures, 2017 not out yet)  For ALL other California counties, click here.  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. 

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

Search here for all income areas by property address to see if there is an income limit or not.

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!