1% Down Conventional
Now, first time homebuyers can put as little as 1% down on a conventional loan with HomeFi.
HomeFi Corporation NMLS #1804455 (http://www.nmlsconsumeraccess.org/)
(1) The principal and interest payment on a $200,000 30-year Fixed-Rate Loan at 5.99% and 99% combined-loan-to-value (CLTV) is $1,221. The Annual Percentage Rate (APR) is 6.456% with estimated points and fees of $3,384.04. The principal and interest payment does not include taxes and property insurance premiums, which will result in a higher actual monthly payment. Rates current as of 04/12/2023. The APR is calculated using the Actuarial Method. Rate is based on a 740 FICO and a detached single family property. (2) For informational purposes only. This is not a commitment to lend or extend credit. All loans, credit and collateral are subject to approval. Restrictions and conditions may apply. Terms, rates, data, programs, information and conditions are subject to change without notice and may not be available in all areas.
When income-qualified borrowers put 1% down, HomeFi and/or its investors pays an additional 2% toward the down payment, up to $4,000, for a total of 3% down.