Unlock Your Dream Home with a 1% Down Payment Option!
Say goodbye to hefty down payments and hello to affordable homeownership with ONE+ program that was just launched by Rocket Mortgage. With this innovative program, you can secure your dream home with just a 1% down payment. Let’s dive into the details and explore this low down payment options available to you.
The ONE+ Benefits: The Path to Homeownership Made Easy
Imagine stepping into your dream home by putting down only 1%! With ONE+ by Rocket Mortgage, that dream can become a reality. This program offers a 1% down payment option that opens doors to homeownership like never before. Whether you’re a first-time buyer or looking to make a repeat purchase, this opportunity is within reach. Plus, there are no limitations on where you can live or move within the country. It’s a nationwide opportunity to supercharge your savings and embark on the journey of homeownership.
3% Instant Equity in Your Home
With this new plan from Rocket Mortgage, you not only benefit from the ability to make a 1% down payment, but you also receive a generous 2% grant from Rocket Mortgage. This means that if you were to purchase a home with a $300,000 price tag, Rocket Mortgage would cover 2% of that amount, which equals $6,000! As a result, you would start your homeownership journey with $6,000 of equity in your home! This grant can provide substantial savings and make homeownership more attainable for you.
No Private Mortgage Insurance
One of the significant benefits of ONE+ program is the exclusion of private mortgage insurance (PMI)! By not having to pay for PMI, you can enjoy a lower monthly payment, making homeownership even more affordable. Unlike conventional mortgage loans that typically require PMI until you reach 20% equity, this program allows you to save significantly on monthly expenses right from the start. For instance, based on a $250,000 assumed purchase price, you could save up to $245 per month by not having to pay for mortgage insurance! This additional savings can be a game-changer, providing you with more financial flexibility and helping you achieve your homeownership goals faster.
Supercharge Your Savings: Low Down Payment Options
With this low down payment option, you can say goodbye to the burdens of hefty down payments. Experience the freedom of homeownership by putting down just 1% down! This low down payment option empowers you to own your dream home while keeping your savings intact.
If you do not qualify for this program, there are other low down payment options available. Click here to read more about the CHFA Down Payment Assistance program where you can as little as $1,000 down! And make sure to check out these other pages:
Qualifying for the ONE+ program
To qualify for ONE+, there are a few requirements to keep in mind. Your income should not exceed 80% of the median income in your area. Additionally, having a qualifying FICO® Score of 620 or better is necessary. The program is also only applicable for single-unit primary residences.
Find Your Dream Home Today!
As your trusted local agents, we understand that the down payment can sometimes feel like an obstacle standing between you and your dream home. But worry not! We are here to be your trusted guides, helping you navigate through the multitude of down payment options available, including this new ONE+ program by Rocket Mortgage. Let us assist you in finding the perfect home that fits your budget and preferences. Together, we’ll help you navigate the real estate process and help make your dream of owning a home a reality!