How much do I need to save for a down payment on a mortgage (home loan)?
You're closer to home-ownership than you might think!
We are committed to helping you on your path to homeownership and prosperity with a variety of low-rate programs that don’t require large down payments.
- The 1% Down Mortgage: We created this product specifically for members in our local housing market trying with their first home purchase. This is a great option when rising prices have made it difficult to save what other lenders require to qualify for a mortgage. Handy people can even do away with the 1% if they buy a fixer and make improvements themselves.
- 3% Down Home possible and Home One Mortgages: These two products are available for those who haven’t been able to save the big down payment, and require just 3% of the sale price as a down payment: Home Possible for those with lower incomes, or Home One Mortgage without an income cap.
If you have any further questions about this, call us at 206.398.5500 or send us a message.