Learn how condo mortgages work, how they differ from traditional home loans, and what buyers should know about qualifying, fees, and lender requirements.
Buying a home may feel out of reach for many due to steep down payment requirements—but a new solution is changing that. The Conventional 1% Down loan program is back, and it's making homeownership more accessible than ever. Whether you’re a first-time buyer or not, this lender-paid down payment assistance initiative opens the door to homeownership with as little as 1% down.
This innovative program is a purchase-only loan option that allows eligible borrowers to contribute just 1% toward the down payment on a home. The remaining 2% is provided as a true grant by the lender (up to $7,000), bringing the total down payment to the required 3%—with no repayment and no second lien.
To qualify for this program, borrowers must:
If you're a first-time homebuyer earning 50% or less of the AMI, you may qualify for a $2,500 pricing incentive, which stacks on top of the 2% lender-paid down payment. This $2,500 is guaranteed—regardless of the property’s price point.
✅ Only 1% down from the borrower
✅ No geographic restrictions
✅ No repayment on the 2% grant
✅ No second lien
✅ Helps buyers reserve cash for other essentials like:
The Conventional 1% Down loan is a true game-changer. By reducing upfront costs and offering generous grant support, it paves a smoother, more affordable path to homeownership. If you're earning 80% or less of the AMI, this could be the opportunity you've been waiting for.
Ready to find out if you qualify? Let’s connect and make your homeownership dream a reality.
The world needs innovators and problem solvers who turn challenges into greater opportunities.
Learn how condo mortgages work, how they differ from traditional home loans, and what buyers should know about qualifying, fees, and lender requirements.
Being your own boss comes with many rewards—freedom, flexibility, and control over your income. But when it comes to getting a mortgage, self-employment can complicate things. Lenders are typically more cautious with borrowers whose income isn’t guaranteed by a traditional employer. This article breaks down everything you need to know to secure a mortgage while self-employed. With the right documentation, strategy, and guidance, homeownership is entirely within reach—even without a W-2.
Connect with Caroline Shook from CMS Mortgages, a licensed mortgage broker, for expert mortgage advice and services.
