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- Title
Lenders Offer 1% Down Programs.
- Authors
DRAFFEN, LEAH
- Abstract
TO OPEN THE DOOR FOR MORE HOME BUYERS, LENDERS ARE ROLLING out 1% down payment programs for conventional loans to offset the initial home purchase costs. In terms of lender size and which mortgage companies are able to offer 1% programs, Chapman says the options and pricing are largely dependent on the risk and appetite of the investors involved. Guild's 1% Down Payment Advantage includes a 1% down payment and a temporary 1% one-year lender interest rate buy-down that is designed to make homeownership more attainable to low- to moderate-income home buyers.
- Subjects
MONEYLENDERS; INTEREST rates; HOUSE buying; INVESTORS; MORTGAGE loans
- Publication
Builder: The Magazine of the National Association of Home Builders, 2023, Vol 46, Issue 5, p14
- ISSN
0744-1193
- Publication type
Article