1% Down Grant: Put 1% Down, Get a 2% Grant
You put down 1%. The lender grants you another 2% (up to $7,000) — so your conventional loan starts with 3% equity and there's no second lien to repay.
Key rules
- Conventional only. Primary residence, 1-unit.
- Income at or below 80% of area median income (AMI).
- Maximum loan amount $350,000.
- Not limited to first-time buyers.
- Mortgage insurance is charged to the borrower (passed through per the program disclosure).
- Availability depends on location — eligibility varies by market.
Credit minimums are not published on the official disclosure — confirm directly before quoting. Program terms follow the current program disclosure.
Program guidelines change frequently. Verify the current guidelines and matrix before locking or quoting. This is educational information, not a commitment to lend. Equal Housing Opportunity.
Common questions
Do I have to repay the 2%?
No — it's a grant, not a second lien. There's nothing to repay.
Can I put more than 1% down?
Yes — up to 2.99% down and you still receive the 2% grant.
Is mortgage insurance required?
Yes. Unlike some assistance seconds, MI on this conventional loan is charged to the borrower.
Is it only for first-time buyers?
No — repeat buyers can use it as long as income and property rules are met.
See what you qualify for
Tell us where you want to buy and how much you can put down. We'll match you with the assistance programs that fit — 100% combos, 1% down grants, or CalHFA — and walk you through every step.