Program Overview

Borrower Contribution: You pay 1% of the purchase price as the down payment.

Lender provides a 2% grant, bringing your total to 3% down, which is the typical minimum for conventional loans.

For example, on a $250,000 home:

You pay $2,500 (1%)

Lender adds $5,000 (2%)

You start owning 3% equity from day one

Eligibility Requirements

To qualify for ONE+, you must meet all of the following:

Income: At or below 80% of your area's median income (AMI)

National Mortgage Professional

Credit Score: Minimum FICO® score of 620



Property Type: Must be a single-unit primary residence (no second homes or investments)

Loan Limit: Loan amount must be $350,000 or l

Total Down Payment: With their 2% grant included, your total down payment cannot exceed 5%

Mortgage Insurance (PMI)

Despite the grant taking you to 3% equity, the program does require mortgage insurance (PMI).

National Mortgage Professional

The Mortgage Report

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