1% Down Program

PURCHASE YOUR HOME WITH JUST 1% DOWN

Are you close to purchasing a home but don’t have enough cash on hand to cover the down payment? Altius Mortgage can help you qualify for the Conventional 1% Down with Equity Boost Loan Program.

This down payment assistance program is used with Freddie Mac’s Home Possible and Home Possible Advantage programs, which can give you an equity boost on your home purchase. It’s a suitable, affordable option for homebuyers in high-cost or underserved communities.

We understand that the eligibility requirements and loan process for each program may vary, making it hard for you to choose the best route. But our friendly and experienced brokers will help you navigate these complexities, so you can close on your home as soon as possible.

Key Features:

  • You put down 1%, your lender contributes 2%*, giving you 3% equity at closing
  • Great low rates
  • Close in 30 days or less
  • Conventional 30-year fixed program
  • Available with no monthly Mortgage Insurance
  • Available for both first-time and repeat buyers

Keep in mind that this loan option comes with a few restrictions, including, but not limited to, the following:

  • Some programs only apply to home purchases, while there are some that may apply to refinancing as well
  • Closing costs may still be included
  • There may be income restrictions and credit score requirements
  • Private Mortgage Insurance may still be included
  • *2% lender contribution may only be applied to down payment

During your Utah mortgage process, our experienced brokers will be working by your side, educating you and communicating with you throughout the process. Upon reviewing your application, we will aggressively shop for a wide range of down payment assistance programs and grants from trusted lenders throughout Utah.

From beginning to end, we will take an active role in helping you become a successful homeowner.