Union Home Mortgage is excited to announce that through the 1% Down Payment Program, we have contributed more than $1 million to support low-to-moderate income first-time homebuyers. Since its launch in December 2023, over 400 families have been able to achieve homeownership, with an average grant received from UHM being over $2,700.
How the Program Works
Through UHM’s 1% Down Payment Program, eligible first-time homebuyers have the opportunity to contribute as little as 1% of the home’s purchase price as their down payment. On top of that, Union Home Mortgage will provide an extra 2% towards the down payment. This means that for qualified applicants, the total initial down payment could be as low as 3%, significantly easing the financial burden associated with purchasing a first home.
Who Qualifies?
The 1% Down Payment Program is designed specifically for first-time homebuyers who meet the eligibility criteria of the Fannie Mae HomeReady and Freddie Mac Home Possible Programs. These programs are both tailored to provide increased flexibility and options for low-income borrowers. Additionally, qualifying homebuyers must meet the following requirements:
Income is less than or equal to 80% of the area median income
The property must be a primary residence
At least one occupying borrower must be a first-time homebuyer
How to Apply
To explore the possibility of participating in Union Home Mortgage’s 1% Down Payment Program, prospective first-time homebuyers are encouraged to connect with a UHM Loan Officer or reach out to us today through uhm.com.
Ready to take the first step towards owning your dream home? Don’t wait—reach out to Union Home Mortgage and start your journey today!
Disclaimer
Union Home Mortgage Crop. | NMLS 2229 | nmlsconsumeraccess.org | 8241 Dow Circle West, Strongsville, Ohio 44136 | Union Home Mortgage will contribute up to 2% down (no greater than $2000) towards a 3% down payment. Home buyer is responsible for the remainder of the down payment. This offer is available for the purchase of a primary residence only. For full terms and conditions visit uhm.com