Stop Renting and Buy a Home with 1% Down

At Guaranteed Rate we know it’s not about closing a loan but about getting you into a home. Sometimes circumstances make saving for that big down payment difficult so we’ve introduced a new national down payment assistance program to help you get into a home faster.

Our new Double Match program allows you to get into a home with just one percent down. You put one percent down and we’ll kick in the other two percent of your down payment, bringing your total down payment up to three percent. This grant doesn’t have to be paid back if you move or refinance. This new program is just one of the ways we’re working to make your dream home a reality.

So what are the details on qualifying?

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  • 680 credit score or higher
  • Loan amount of $424,000 or less
  • Income limits based on your location- contact Your Guaranteed Rate Loan Officer for specifics in your area
  • First time home buyer counseling required if all borrowers are first time home buyers

What else do you need to know?

  • Condos, homes and townhomes are all ok
  • Double Match can be coupled with a mortgage certificate program (MCC), which is tax credit that varies state by state

If you’re ready to stop renting and get into a home, this program might be right for you. Contact us to learn more about the program and see if you qualify.

*It is important for you to know that the smaller your down payment percentage, typically, the higher your interest rate. Down payment assistance cannot exceed two percent of the purchase price. Minimum credit score and debt-to-income (DTI) requirements, annual income limits and purchase price limits apply. Not all applicants will be approved. Receipt of application does not represent an approval for financing or interest rate guarantee.

Example: Monthly principal and interest (P&I) payment of $1,158, based on a purchase price of $250,000, down payment of 3% (1% provided by borrower and 2% provided by Guaranteed Rate), 30 year fixed rate mortgage (360 monthly payments) and rate of 4.00%/4.075% APR (annual percentage rate). Advertised rates and APR effective as of 02/12/17 and are subject to change. Assumes a first lien position, 720 FICO score, 55 day rate lock, based on a single family home in New Jersey. Subject to underwriting guidelines and applicant’s credit profile. Sample payment does not include taxes, insurance or assessments. Actual payment obligation will be greater. Applicant’s interest rate will depend upon the specific characteristics of applicant’s loan transaction, credit profile and other criteria. Contact Brian DiVito for more information and up to date rates.

Brian DiVito 

VP of Mortgage Lending 

NMLS# 274474

908-451-4517 cell

www.rate.com/briandivito

Keller Williams Realty - A New Generation of Positive,Professional & Tech Savvy Realtors. Keller Williams Realty is located at 188 Elm Street in Westfield and serves the communities along the train lines including Westfield, Cranford, Fanwood, Scotch Plains, Mountainside, New Providence, Berkeley Heights and the surrounding communities. Call us today at 908-233-8502

Are you considering selling your home? Take advantage of our home sales expertise and marketing experience to ensure your home is sold in reasonable time and for top dollar. Get a FREE in-depth home Value Report, and find out more about a detailed marketing plan and how it can help sell your home faster, and for top dollar.

The opinions expressed herein are the writer's alone, and do not reflect the opinions of TAPinto.net or anyone who works for TAPinto.net. TAPinto.net is not responsible for the accuracy of any of the information supplied by the writer.

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