The Magic of the 1% Down Programadmin
How our Unique Program Is Changing Lives
One of the major financial decisions most individuals ever make is buying a house. Owning a home provides you with a sense of security and stability that simply can’t be achieved by renting from someone else. Additionally, the many long-term advantages of home ownership provide a life-changing opportunity to grow your personal net wealth.One of the great joys we have in our firm is helping many of our clients purchase a home and join the family of contented home owners. Our secret?
It’s not really so much a secret as the way we have designed what we call our One-Two-Three program. As one of Utah’s leading mortgage brokers, we have created an innovative approach that allows buyers to move in to their new home with a net 1% down payment. That’s right, just 1%. We pair our clients with a 3% percent down mortgage and then we gift them 2% of the home value. Again, that’s right – we gift the 2% and you move into your house with an instant 3% equity.
Here are comments from just a few of those new homeowners:
“Putting 1% down in a hot market like this was a great investment. We were able to use the money we had saved as a down payment to improve the value of the home and truly make it ours: new floors, paint, kitchen cabinets, window treatments, and even furniture. The improvements gave us instant equity and made it feel like home from the day we moved in.” ~Kenneth
Ken really used this program to his advantage. He had the money for the down payment but chose to use the 1% down payment program anyway. This allowed him to use the money he saved for a down payment on renovating and updating his home.
“I originally got pre-approved with another lender for an FHA loan but the condo I fell in love with wasn’t FHA Approved. If it wasn’t for my mother recommending a 2nd opinion with ALV Mortgage and the 1% down conventional loan I wouldn’t be in my condo today.” ~Tonia
Tonia was pre-approved with another lender for an FHA Loan and was shopping for condo’s. Unfortunately not all condo’s are FHA approved. Not only was our 1% loan program able to get her into her condo, but it did so at a cheaper monthly payment then the other lender’s FHA loan program.
“My rent kept increasing year after year so I decided to buy a condo, but I didn’t have a down payment. I decided to quit my Gym membership, quit going to Starbucks, and save every penny I could. It took me 3 months, but I was able to save for a 1% down payment. My rent will never go up again.” ~Angela
I am so proud of Angela. It wasn’t easy but she set a goal and made it happen.
“When a house came up for sale across the street from my aging parents I just had to buy it, but I didn’t have a down payment. Scrimping up 1% to purchase this house wasn’t easy, but we did it. We wouldn’t have been able to buy this house any other way. Now we love our house and being so close to family.” ~Sofia
This loan wasn’t easy but I am so glad we were able to get it closed. Buying this house made Sofia so happy she could hardly contain herself. She couldn’t wait to get the keys.
Call me today and I can explain how I can get you into a home with just 1% down. We work hard to make the mortgage loan process the easiest part of your biggest financial decision.