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1% Down Mortgage Options and Requirements for 2026
A 1% down mortgage may be available when an eligible conventional loan combines the borrower’s 1% contribution with an additional lender contribution. Availability, contribution limits, income rules, pricing, and mortgage insurance depend on the specific program and borrower profile.
One-percent-down programs are conventional loans where the borrower contributes one percent and the lender contributes an additional grant toward the minimum required down payment. Availability, income limits, and property restrictions are set by the offering lender and can change or end without notice, so eligibility must be confirmed at application.
- ✓A standard HomeReady mortgage permits up to 97% loan-to-value, which normally means a 3% total down payment; HomeReady by itself is not a universal 1% down program.
- ✓A qualifying 1% down option generally uses 1% from the borrower plus a separate lender contribution toward the remaining required equity, subject to program caps and availability.
- ✓Income limits, first-time-buyer rules, occupancy requirements, credit standards, and homeownership education may apply and vary by the selected investor program.
- ✓Private mortgage insurance is generally required at this loan-to-value and affects the monthly payment until cancellation requirements are met.
- ✓The contribution is not guaranteed, cannot be assumed for every borrower, and should be compared with FHA, HomeReady, Home Possible, and local assistance using actual Loan Estimates.
Pricing snapshot
Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.Low Down Payment Conventional Rates — Today's Options at a Glance
Four real options from today's wholesale pricing for one documented sample scenario per program — no form needed. Updated twice each business day, about 10 AM and 2 PM Eastern. Your own rate depends on your credit, down payment, property, state and lock date.
Live pricing tool
Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.Live Low Down Payment Conventional Rates
Enter your scenario to see live wholesale pricing for Florida and Colorado. Figures are illustrative and not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate.
Conventional loan pricing tool
Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.Conforming conventional first-mortgage pricing, with optional temporary buydown. Every figure shown comes from our pricing provider for the scenario you enter — nothing is estimated.
Pricing shown is based on the scenario entered and wholesale pricing available at the time of the search. It is not a rate lock, loan approval, commitment to lend, or guarantee of terms. Rates and pricing change frequently and expire. Your actual rate, APR, payment, and costs depend on a complete application, verified credit and income, property and appraisal review, and lender underwriting approval. Binding figures appear on your Loan Estimate. Payment shown is principal and interest only and excludes taxes, insurance and mortgage insurance. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.
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Simply Approved Mortgages Team
Licensed Loan Officers · NMLS# 2620881
Get your personalized scenario summary
Complete the short request and a Simply Approved Mortgages Loan Officer sends back a written summary built from your own numbers: estimated payment breakdown, estimated cash to close, the loan structures that fit your file, and what documentation the file will need.
- Estimated monthly payment with taxes and insurance
- Estimated cash to close for your scenario
- Loan options your profile may fit
- Document checklist for your file
Takes about 3 minutes · Summary shown on screen and emailed to you
Illustration only, generated from the information you enter. Not a rate quote, lock, loan estimate, pre-qualification, offer, approval, or commitment to lend. Figures are subject to credit, income, asset and property review and full lender underwriting; binding numbers appear on your Loan Estimate.
Scenario summary
- Purchase price entered
- $412,000
- Down payment entered
- $20,600
- Estimated loan amount
- $391,400
- Estimated cash to close
- $14,300
- Programs reviewed
- 4
Sample layout with example figures — your own numbers replace these. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
How a 1% down mortgage works
A true 1% borrower-down option is generally structured as a conventional mortgage with a 3% total equity requirement. The borrower supplies 1% of the purchase price and an eligible lender-funded grant supplies the other 2%, subject to a dollar cap. As of 2026, the active national versions of this structure typically cap the lender contribution in the $5,000 to $7,000 range, which means the full 2% grant is generally only available on lower-priced homes. On higher-priced homes the borrower may need to supply more than 1%. It is not the same as saying the home only requires 1% total equity, and it is not automatically included with every HomeReady or Home Possible loan.
Eligibility is program-specific
Active 2026 versions of these programs commonly require income at or below 80% of the Area Median Income for the property's location, a one-unit primary residence, a minimum credit score around 620 or higher, and acceptable debt-to-income ratios. Some versions include lender-paid mortgage insurance or offer a choice between a larger grant and a temporary rate buydown. The exact contribution cap, maximum purchase price, loan limit, income cap, and eligible property types must be confirmed for the program available when you apply, because these offerings are launched, paused, and relaunched over time.
Costs that still apply
A lender contribution reduces the amount the borrower supplies for the down payment, but it does not eliminate closing costs, prepaid taxes and insurance, escrows, appraisal charges, or title charges. Mortgage insurance treatment varies: some versions include lender-paid mortgage insurance, while others price borrower-paid PMI into the monthly payment. Review the interest rate, APR, monthly mortgage insurance, cash to close, and five-year cost on the Loan Estimate rather than comparing down payment alone.
Compare the available low-down-payment paths
HomeReady and Home Possible generally permit 3% down and may offer reduced mortgage-insurance pricing for eligible borrowers. FHA generally requires 3.5% down for borrowers meeting its credit standard and includes upfront and annual mortgage insurance. VA and USDA may permit eligible borrowers to finance without a down payment, but each has separate eligibility and property rules. State or local assistance may also help, sometimes through a grant, deferred loan, or forgivable second mortgage.
Want these numbers built around your file?
A short request is all it takes to get a written scenario summary back from a Simply Approved Mortgages Loan Officer. Binding figures appear on your Loan Estimate.
Confirm the contribution before relying on it
Do not write an offer based only on an advertised 1% figure. A Simply Approved Mortgages Loan Officer must verify that a participating program is available, that the borrower and property qualify, and that the contribution fits the transaction. Program availability and terms can change, and approval remains subject to underwriting. All rate, payment, APR, fee, and savings examples are illustrative and are not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate.
How a 1% down structure is actually built
A "1% down" program is not a separate loan type published by a federal agency — it is a marketing name for a specific combination of a conventional loan, a lender or grant contribution, and program-specific eligibility rules that make the effective borrower contribution smaller than the loan-to-value would suggest.
| What it is | How it actually works | Published by |
|---|---|---|
| It is still a conventional loan underneath | These programs use a standard conventional loan, subject to Fannie Mae or Freddie Mac eligibility rules, with a low minimum down payment requirement supplemented by an additional contribution. | Fannie Mae Selling Guide |
| The gap is filled by a grant or lender credit | The difference between the borrower’s 1 percent contribution and the program’s minimum down payment is typically covered by a lender-funded grant or matching contribution, structured to comply with program eligibility rules. | Lender program guidelines (vary by investor) |
| Minimum borrower contribution rules still apply | Even where a grant fills part of the down payment, agency guidelines set rules for how much of the down payment can come from gift or grant funds versus the borrower’s own funds, depending on loan-to-value and property type. | Fannie Mae Selling Guide |
| Private mortgage insurance still applies | Because the resulting loan-to-value is high, private mortgage insurance is required under conventional program rules and remains in place until it meets removal criteria under federal law. | Homeowners Protection Act (12 U.S.C. § 4901 et seq.) |
| Income limits often apply to the grant portion | The lender or grant contribution is frequently limited to borrowers under a specified area median income threshold, even though the base conventional loan itself may not carry an income limit. | Lender program guidelines (vary by investor) |
| Property and occupancy restrictions | These programs are generally limited to primary residence, owner-occupied purchases and may restrict eligible property types. | Fannie Mae Selling Guide |
| Homebuyer education requirement | Many low down payment and grant-assisted programs require completion of an approved homebuyer education course. | Fannie Mae Selling Guide |
| Debt-to-income and credit standards remain conventional | Qualifying still runs through standard conventional underwriting on income, credit, and debt-to-income; the reduced down payment does not relax those other underwriting standards. | Fannie Mae Selling Guide |
Program parameters above are published by the agencies and enterprises named in the right-hand column and can change. They describe program rules, not an offer; eligibility, terms, conditions, and availability vary by borrower, property, lender, loan program, and state, and all loans are subject to lender underwriting and approval.
What "1% down" actually means in the disclosure
The marketing name describes the borrower’s out-of-pocket contribution, not the total equity position at closing. A typical structure pairs a 1 percent borrower contribution with an additional 2 percent lender or grant contribution to reach a combined 3 percent down payment that satisfies the conventional program’s minimum — meaning the borrower still ends up in a loan with roughly 97 percent loan-to-value, with all the private mortgage insurance and pricing implications that come with financing that much of the purchase price.
Why the grant portion has its own rules
Because agency guidelines limit how much of a down payment can come from sources other than the borrower’s own funds at certain loan-to-value levels, the lender-funded portion of a 1% down structure has to be documented and sourced in a way that satisfies those rules — it is not simply cash handed to the borrower with no strings. Income eligibility for the grant portion specifically, separate from the underlying loan’s underwriting, is a common feature, so a borrower can qualify for the base loan while still needing to meet a separate income threshold to access the grant that makes the 1 percent structure work.
Check where pricing sits before you decide
Review current rate context, then start a request so your own credit, income, and property details drive the numbers. Illustrative only — not a quote or commitment to lend.
The mortgage insurance and payment math that gets skipped
A near-97-percent loan-to-value loan carries private mortgage insurance that adds to the monthly payment, and that premium persists until the loan reaches an equity position that meets federal removal criteria — which can take longer on a loan that started with very little down payment. Evaluating a 1% down program means running the full payment, including mortgage insurance, against your budget, not just comparing the small upfront contribution to a larger conventional down payment.
What underwriting and the grant program each check
These files often carry two separate income tests: one for the base loan, and one for the grant eligibility.
| Type of income or evidence | How it is documented | Why it works for this product |
|---|---|---|
| Standard qualifying income for the base loan | Pay stubs, W-2s, or tax returns per standard conventional underwriting. | The underlying loan is still qualified under conventional debt-to-income and credit standards. |
| Household income against the grant’s area median income limit | Income documentation compared against the specific program’s published income threshold, which can differ from the loan’s own qualifying income calculation. | The lender or grant contribution is commonly restricted to households under a specified income limit. |
| Homebuyer education certificate | Certificate of completion from an approved course. | Many grant-assisted low down payment programs require this before closing. |
| Source and documentation of the 1 percent contribution | Bank statements or gift letter showing the borrower’s own funds or an eligible gift source for their portion of the down payment. | Even a small contribution amount must be sourced and seasoned per standard down payment documentation rules. |
Documentation requirements vary by lender, program, and file. The list above describes what underwriting commonly accepts, not a determination about your income or your approval.
1% down versus other low down payment paths
Several structures reduce the upfront cash needed to close; the tradeoffs differ.
| Option | Usually the better choice when | What you give up |
|---|---|---|
| 1% down with lender/grant match | You meet the grant’s income limit and want to minimize upfront cash while accepting mortgage insurance. | High loan-to-value means mortgage insurance persists longer and pricing may reflect the risk tier. |
| Standard 3% down conventional | You do not meet the grant income limit but still want a low down payment. | Requires the full 3 percent from your own or gift funds rather than a lender match. |
| FHA minimum down payment loan | Credit profile fits FHA guidelines better than conventional, regardless of income limit eligibility. | FHA mortgage insurance premium rules differ and can be harder to remove than conventional PMI. |
A worked example of the contribution structure
On a $300,000 purchase, a 1 percent borrower contribution is $3,000, and a matching lender or grant contribution of roughly $6,000 brings the combined down payment to about 3 percent, or $9,000, satisfying the conventional program minimum. The resulting loan amount of roughly $291,000 still carries private mortgage insurance because of the high loan-to-value, and that premium is part of the true monthly cost that should be compared against the small upfront contribution the marketing emphasizes.
Illustrative only. Figures are examples used to show the arithmetic and are not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate.
Get a written summary of your options
Tell us the scenario you are working on and a Simply Approved Mortgages Loan Officer reviews it against real program guidelines, with no obligation.
How this applies in Florida and Colorado
Florida. Florida buyers using a 1% down structure should factor in the state’s documentary stamp and intangible taxes on the resulting mortgage, along with insurance costs that can be more significant in coastal or flood-prone counties, since a higher monthly insurance premium compounds with mortgage insurance on a high-loan-to-value file to affect overall affordability.
Colorado. Colorado buyers should confirm the specific area median income limit used for the grant portion against the county where they are purchasing, since Colorado income limits can vary meaningfully between metro Front Range counties and more rural areas, which affects whether a specific household qualifies for the grant contribution even if they qualify for the base loan.
Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado, so the two applications above are the ones we can act on for a consumer file. Business-purpose loan products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
How to evaluate and pursue a 1% down program
Because two sets of rules apply — the loan’s and the grant’s — checking both early avoids a late surprise.
- Confirm the grant’s income limit against your household income. This eligibility test is often separate from the base loan’s qualifying income calculation.
- Confirm property and occupancy eligibility. Verify the property type and that it will be your primary residence, since these programs generally exclude investment purchases.
- Complete required homebuyer education. Confirm timing requirements before closing.
- Document the source of your 1 percent contribution. Provide bank statements or a gift letter as required for standard down payment sourcing.
- Run the full payment including mortgage insurance. Compare the total monthly obligation, not just the reduced upfront contribution, against your budget.
- Proceed through standard conventional underwriting. Credit, income, and debt-to-income are evaluated under normal conventional guidelines.
- Close with both the base loan and grant documentation finalized. Confirm the grant contribution is properly documented on the Closing Disclosure.
Mistakes that cost people money on this
- Assuming the program requires only 1 percent total down payment rather than a combined structure.
- Not checking the grant’s separate income limit before assuming eligibility.
- Ignoring the ongoing cost of mortgage insurance on a near-97-percent loan-to-value loan.
- Skipping required homebuyer education until it delays closing.
- Assuming the program applies to investment or second-home purchases.
- Not comparing the total monthly payment against a standard 3 percent down alternative without the grant.
Is this the right move for your situation?
The honest answer depends on the file. These are the patterns we see on both sides.
Usually a good fit when
- Your household income falls under the grant program’s specific income limit.
- You are purchasing a primary residence and have minimal upfront cash but stable qualifying income.
- You have run the full payment, including mortgage insurance, and it fits your budget.
Usually not the right move when
- Your household income exceeds the grant program’s limit even though you qualify for the base loan.
- You are purchasing an investment property or second home.
- You have not budgeted for mortgage insurance persisting for a meaningful period given the high loan-to-value.
None of this is a determination about your file. A Simply Approved Mortgages Loan Officer can run your actual numbers and show you what your disclosures would say.
What you can do with this loan
Purchase an eligible one-unit primary residence with limited borrower down-payment funds.
Combine personal funds with an available lender contribution under a qualifying conventional program.
Compare a lender-contribution option with HomeReady, Home Possible, FHA, VA, USDA, and local assistance.
Pros & cons — honest tradeoffs
Pros — Pros & cons
- +May reduce the borrower’s initial down-payment contribution when all program requirements are met.
- +Uses conventional financing, so mortgage insurance may later be canceled when legal and investor requirements are satisfied.
- +Can preserve some cash for eligible closing costs, reserves, repairs, or moving expenses.
Cons / watch-outs — Pros & cons
- −Availability and the contribution amount are limited and are not guaranteed for every borrower or property.
- −Private mortgage insurance and closing costs generally still apply.
- −Income, occupancy, credit, education, loan-limit, and property restrictions may apply.
- −The rate or total cost may differ from other conventional options, so the lowest initial cash requirement may not be the lowest-cost loan.
Compare loan officer compensation on your mortgage quote
Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.
Compensation difference on this illustration: $3,750.
How lower compensation can help you
When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.
Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.
A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.
As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.
Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.
Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.
Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
Purchase market update
What buyers should know this month
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2026 buying power
Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125
1% from the borrower
The rest of the required equity must come from an eligible program contribution.
Primary residence
Most lender-contribution options are limited to an eligible owner-occupied home.
PMI usually applies
Include private mortgage insurance when comparing the complete monthly payment.
Cost and payment tools
Run your payment, affordability, closing cost and refinance numbers
Monthly payment, affordability, closing costs, refinance break-even and early payoff, all on one screen. This page is not written for one state, so property tax, insurance and transfer or recording charges start at neutral placeholder assumptions rather than published averages — Transfer, documentary-stamp and recording charges are set by your state and county — enter your own figure, or open the state page for a sourced seed. Insurance and tax assumptions vary widely by state, county and property, so replace these starting values with quotes for your address. Every figure is an illustrative estimate, not a quote, lock, offer, approval, or commitment to lend.
Your inputs
Estimated result
- Down payment
- $20,000
- Loan amount
- $380,000
- Principal & interest
- $2,402
- Property tax
- $333/mo
- Homeowners insurance
- $167/mo
- Estimated total monthly
- $2,902/mo
Reference sources: Tax Foundation — property taxes paid as a percentage of owner-occupied housing value, NAIC — Homeowners Insurance Report, CFPB — Understanding your Loan Estimate.
Assumptions, methodology, and limitations
Principal and interest use the standard amortization formula on the loan amount you enter. This page does not target a single state, so the property tax and insurance fields start at neutral placeholder assumptions rather than published averages — replace them with figures for your own address, or open the matching state page for sourced seeds. Closing costs apply your state's transfer / documentary-stamp practice (0.00% of price used as the buyer-side seed) plus typical title, recording, appraisal, credit and prepaid escrow lines. Refinance break-even divides your entered costs by the monthly payment difference. Early payoff runs a month-by-month amortization with your extra principal.
These tools do not include mortgage insurance, funding or guarantee fees, HOA special assessments, flood or windstorm premiums, seller credits, lender credits, discount points, or county and municipal charges specific to your parcel. Statewide averages will not match any individual property. Figures are estimates only.
Illustrative only. Binding figures appear on your Loan Estimate, and terms vary by borrower, property, lender, program, and state.
Turn these estimates into real numbers
Send your scenario to a Simply Approved Mortgages Loan Officer and get a written summary back, or compare where rates sit today. Educational only — not a quote, lock, offer, approval, or commitment to lend.
1% down mortgage questions and requirements
Answers to the most common 1% down mortgage questions and requirements questions, written by licensed loan officers.
Ask SAM anything about mortgages
SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.
Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.
Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.
Sources & Citations
- Fannie Mae — Fannie Mae Selling Guide: minimum down payment and contribution sources — Rules on gift, grant, and lender-funded down payment contributions.
- Consumer Financial Protection Bureau — Homeowners Protection Act — Federal rules on private mortgage insurance cancellation and termination.
- Freddie Mac — Freddie Mac Single-Family Seller/Servicer Guide — Comparable low down payment and affordable lending program rules.
- Florida Office of Financial Regulation — Florida Office of Financial Regulation — Licensing oversight for mortgage brokers arranging Florida transactions.
Sources: government and agency publications listed above. Simply Approved Mortgages LLC is not affiliated with, endorsed by, or sponsored by HUD, FHA, VA, USDA, or any government agency. Program rules change; the published source text governs.
Trusted government resources
These independent government resources can help you research mortgage programs, rates, and your rights before you apply.
CFPB
CFPB — Explore loan choices
FHFA
FHFA — Conforming loan limit values
HUD
HUD — Homebuying programs and resources
Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.
How this page connects
Where this fits in the conventional and agency lending library
This page sits inside our Conventional and agency lending coverage.
What most readers open next
- Conforming loan limitsBecause the ceiling that separates conforming from jumbo.
- How PMI worksBecause anything under 20% down carries it until it cancels.
- FHA versus conventionalBecause the comparison most buyers actually need.
Explore the full guide
Keep reading — the rest of the buying playbook
Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.
Guide
HomeReady loans
Review Fannie Mae’s standard 3%-down program.
Read the guide →Guide
Home Possible loans
Compare Freddie Mac’s low-down-payment option.
Read the guide →Guide
First-time home buyer guide
Plan credit, cash, and program comparisons.
Read the guide →Guide
Down payment assistance
Understand grants, deferred loans, and forgivable seconds.
Read the guide →Guide
FHA loans
Compare 3.5% down and FHA mortgage insurance.
Read the guide →Guide
Conventional loans
Review conventional eligibility and costs.
Read the guide →Guide
Down payment assistance overview
How grant-based structures like this one compare with other assistance programs.
Read the guide →Guide
Conventional loans
The underlying loan type that 1% down programs are built on top of.
Read the guide →Internal library
Related mortgage guides across our library
Follow the next relevant guide for your scenario.
Purchase mortgages
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Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.
Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.
Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.
Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.
Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.
Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.
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