1-877- 292-7350 jhurst@hurstlending.com

Move in With Just 1% Down

Don’t have a big down payment? Purchase your home with 1% down.

This mortgage plan combines your 1% down payment with a 2% lender contribution, allowing you to use gift funds for the entire down payment. This provides financial flexibility for furniture, house repairs, and maintenance, ensuring a better homeownership experience.

Lower Upfront Cost

One of the main advantages of a 1% down mortgage is that it allows you to become a homeowner with a lower upfront cost. Instead of having to save up a large down payment of 20% or more, you only need to contribute 1% of the purchase price. This can be particularly beneficial for first-time homebuyers or individuals who have difficulty saving a significant amount of money.

Access to Homeownership Sooner

By requiring a smaller down payment, a 1% down mortgage can help you enter the housing market and become a homeowner sooner. This can be advantageous if you’re eager to stop renting and start building equity in your own property. It provides an opportunity to start enjoying the benefits of homeownership, such as stability, tax advantages, and potential property appreciation.

Flexibility with Available Funds

Opting for a 1% down mortgage allows you to keep more of your savings available for other purposes. By not tying up a significant portion of your funds in a down payment, you can allocate them towards other financial goals, such as home improvements, emergency funds, or investments. This flexibility can be especially valuable if you have other financial priorities or if you prefer to maintain a higher level of liquidity.

Low Down Payment Solution

Borrowers put 1% down, we pays an additional 2% as a lender contribution toward the down payment, up to $4,000, for a total of 3% down.

Borrower Qualifications

For borrowers with income at or below 50% of the Area Median Income (AMI)

620+ FICO

30-year fixed loans with an ATV of 97%

Eligible for primary purchases only

How it Helps You

Lower downpayment

Get into a house sooner by reaching the downpayment savings goal faster

More money for furniture, house repairs and maintenance

What is a 1% Down Mortgage?

A 1% down mortgage, also known as a low down payment mortgage, is a type of home loan that allows you to purchase a property with a down payment equal to 1% of the purchase price.

Traditionally, when buying a home, lenders typically require a down payment of 20% of the purchase price. However, a 1% down mortgage provides an alternative option for borrowers who may not have enough savings to make a larger down payment.

With a 1% down mortgage, you contribute only 1% of the purchase price as a down payment, while the lender provides the remaining 99% of the funds required to purchase the home. This allows you to become a homeowner with a smaller upfront investment.

5 Stars 300x52 1

I’ve worked with Jay Hurst on several loans.  Jay is extremely knowledgeable and helpful, and was able to advise me on the options for my recent purchase. Great guy to have on your side, and great rates!

Kevin B.

5 Stars 300x52 1

Hurst Lending was very easy to work with and stayed in constant contact with me throughout the loan process so I never had to wonder what the status of the loan was.

Naomi R.


Hurst Lending
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The Hurst Lending Difference

Funding Choices

Low downpayment options available.

Quick Decisions

With a quick closing and no red tape.

Great Rates

We offer some of the best rates available.

Problem Solving

Creative approaches for unique situations

Competitive Rates

Plus high quality customer service

Frequently Asked Questions

Can anyone qualify for a 1% down mortgage?

Borrowers need to meet certain criteria such as a 620+ credit score with an income at or below 50% of the Area Median Income for your area.  This loan can also only be used to purchase a primary residence.  

Do I have to pay mortgage insurance with a 1% down mortgage?

Yes, borrowers are required to pay private mortgage insurance (PMI) until they have built sufficient equity in the home. PMI protects the lender in case of default and allows borrowers to obtain financing with a lower down payment.

How long do I have to pay mortgage insurance?

The duration of PMI payments can vary. Typically, it is required until the borrower has accumulated 20% equity in the home. However, specific terms and conditions may vary based on the lender and the loan program.

What other costs should I consider besides the down payment?

In addition to the down payment, you should consider closing costs, which include fees for appraisal, title insurance, and other expenses. It’s essential to budget for these costs when planning to purchase a home.

Are there income limits for 1% down mortgages?

This program requires that your income be at or below 50% of the Area Median Income (AMI) for your area.  

Can I use gift funds for the 1% down payment?

Yes, you are able to use gift funds to pay for the 1% down payment as well as certain closing costs associated with this program.  

Are there different types of 1% down mortgage programs?

Most 1% down mortgage products were discontinued after the 2008 financial crisis.  Our program is one of the few remaining 1% down conventional mortgage programs on the market.

Can I refinance a 1% down mortgage in the future?

Yes, you can refinance a 1% down mortgage at any time and no pre-payment penalities are associated with this program.  

Low Down Payment Mortgage Expertise

We help simplify the loan process & get you a low downpayment.

About Hurst Lending

We have been helping our customers buy, sell, and refinance their homes since 2006. Our personalized approach to the home buying process includes a suite of services that solve common hurdles in the home buying process.  Have you ever experienced the frustration of trying to buy before you sell; Losing your dream home in a bidding war; Trying to get a No-Seasoning Cash-out loan; Being unable to obtain a mortgage because your new or old house needs modest repairs; or simply because you prefer using our funds to close quickly without having to liquidate other investments?  Our Industry-leading suite of short-term loans solves these issues.  We also offer a suite of real estate investor loan products and a full suite of conventional, VA, FHA, construction and traditional home loans.