1% Down Payment Program

​

We believe in accessible homeownership for all, and our new innovative program can help you get into a home now. With our 1% Down Payment Advantage, you can start your homebuying journey with a one percent down payment and a two percent paid by L3’s Lender through their down payment assistance to start building equity–on us.

​

 

Program requirements

• Credit scores as low as 620

• Area median income limits apply

• Conforming loan limits apply

• 95-97% Loan-to-Value first mortgage

• First-time homebuyers and repeat buyers are eligible

• Homebuyer education required

• Primary purchase transactions only

 

*L3’s lender to cover 2% of the required minimum down payment amount in the form of a non-repayable grant with a maximum grant amount of $7,000. Changes to the loan parameters, including but not limited to the loan amount, owner-occupancy status, loan to value and other factors may render the borrower ineligible for the program. Eligibility is subject to the program guidelines. The grant may only be used for the borrower’s cash investment in accordance with the program guidelines.

All loans subject to underwriter approval; terms and conditions may apply. Also, it is subject to change without notice, as well as, the availability of this program. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

​

All loans subject to underwriter approval; terms and conditions may apply. Also, it is subject to change without notice, as well as, the availability of this program. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

​