Out Of The Box Pro Loan Packaging and Rocket Mortgage are Now doing a 1% Down program helping people get an affordable loan.
A home loan that makes home more affordable
We cover 2% of your down payment
With your 1% that adds up to 3%, which means a smaller monthly mortgage payment for you.
30-year fixed rate
Most popular because it has the lowest payment and an interest rate that doesn’t change.
ONE+ has an income cap – also called an Area Median Income (AMI) requirement. That means you may qualify if your income is below a certain percentage of the AMI where you want to buy a home.
Is ONE+ only for first-time home buyers?
No, you don’t have to be a first-time home buyer to be eligible for ONE+.
Can I put more than 1% down?
Yes, you can put down as much as 2.99% of the purchase price, and we’ll still cover an additional 2% down.
You might decide to put down more than 1% to lower your monthly mortgage payment, or you could decide to go with the lowest down payment and use the funds for closing costs. We’ll help you figure out which strategy is best for you.
What type of loan is it?
It’s a 30-year fixed-rate conventional loan. This means that your payments are spread over 30 years and your interest rate stays the same for the entire length of the mortgage.
If I’m interested, what are my next steps?
Whether you’re starting to look at homes or you’ve just made an offer, begin the approval process. You can do that by contacting us by clicking this link or going to our contact page. Want to apply via phone? Give us a call 786-581-6861