Unlock Your Dream Home with Just 1% Down: Anchor Financial's Revolutionary Loan Program
Home Ideas by JustMy | January 31, 2024
Unlock Your Dream Home with Just 1% Down: Anchor Financial's Revolutionary Loan Program
Home Ideas by JustMy | January 31, 2024
With only 1% down, homeownership becomes more affordable and achievable.
Buying a home is a significant milestone, but the financial hurdles can often seem daunting. One of the biggest challenges prospective homeowners face is saving for a down payment. But what if you could secure your dream home with just 1% down? Anchor Financial, a trusted financial institution in Memphis, is making this possible with their 1% Down Convention Loan.
What is a 1% Down Convention Loan?
The 1% Down Convention Loan is a mortgage program that requires only a 1% down payment from the borrower. The lender, in this case, Anchor Financial, contributes an additional 2% towards the down payment, making it a total of 3% down. This innovative approach helps alleviate the burden of a substantial upfront payment, making homeownership more attainable for aspiring homeowners.
Benefits of the 1% Down Convention Loan
The 1% Down Convention Loan offers several benefits. The most obvious is the lower upfront cost. With only 1% down, homeownership becomes more affordable and achievable. This loan allows borrowers to get into a house sooner by reaching the down-payment savings goal faster.
Eligibility Criteria
To qualify for the 1% Down Convention Loan, applicants must meet specific criteria. These include income requirements (at or below 80% of the Area Median Income), a minimum credit score of 620, and a maximum debt-to-income ratio.
Anchor Financial: Your Partner in Homeownership
Anchor Financial is committed to helping clients achieve their homeownership dreams. With their 1% Down Convention Loan, they are breaking down barriers and making homeownership a reality for more people. If you're considering buying a home, reach out to Anchor Financial to learn more about this innovative loan program and start your journey to homeownership today.
Learn more about Anchor Financial Mortgage Services
1840 Pyramid Pl. Ste 320 Memphis, TN 38132 · (901) 296-0007
Anchor Financial Mortgage Services
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