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Mortgage Options, Inc. is excited to announce its new mortgage program now available to prospective home buyers – the 1% down conventional loan! We’re one of the first independent mortgage companies in the country to offer this loan, which provides eligible homebuyers with a 2% lender-paid down payment in addition to the 1% down, giving you a 3% equity boost at closing.
Who is eligible for the Conventional 1% Down Program?
This 1% down program is perfect for home buyers who want to save money on their down payment, keeping more money in their pockets. Homebuyers must have a strong credit score – a minimum FICO score of 700 – and a maximum debt-to-income ratio of 43%.
The 1% down program is a new alternative to the 3% down programs that Mortgage Options, Inc. already offers. We are one of the first independent mortgage companies in the U.S. to offer a 1% payment option in the form of a conventional loan, as opposed to a government-backed mortgage.
Benefits of the 1% Down Loan
- You put down 1%, your lender contributes 2%*, giving you 3% equity at closing
- Great low rates
- Close in 30 days or less
- Conventional 30-year fixed program
- Available with no monthly Mortgage Insurance
*2% lender contribution may only be applied to down payment
Are you interested in our new Conventional 1% Down Mortgage? Speak to one of our loan officers today at Mortgage Options, Inc. We offer a free, no-commitment consultation and can help find the perfect mortgage for you. Call 803-732-5787.