TMG Home Loans Now Offers Conventional 1% Down Program for Home buyers
New program offers borrowers better savings, more favorable payments than FHA product
TMG Home Loans has announced a new program enabling consumers to purchase homes with as little as 1% down, making it one of the first independent mortgage companies in the country to offer a conventional 1% down program homebuyers. TMG Home Loans will provide eligible homebuyers with a 2% lender-paid down payment that gives consumers a 3% equity boost at closing.
“The 1% down program we’re making available to clients is a new alternative to the 3% down programs that already exist,” said Lamont Hyde of TMG Home Loans. “It’s a conventional loan designed for borrowers with strong FICO scores who want to save money on their down payment and maximize their monthly discretionary income.”
TMG Home Loans produced a video to highlight the program.
This Conventional 1% down program is available to homebuyers with a minimum FICO score of 700 and a maximum debt-to-income ratio of 43%. TMG Home Loans is one of the first independent mortgage companies in the U.S. to offer a 1% down-payment option in the form of a conventional loan, as opposed to a government-backed mortgage.
To learn more about the conventional 1% down program, Call Lamont Hyde @ 562-968-7004
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