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Updated about 8 years ago on . Most recent reply

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Carole Hardcastle Painter
  • Riverton, UT
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Purchase with 1% down?

Carole Hardcastle Painter
  • Riverton, UT
Posted

I have seen a lot of adds for conventional loan. 1% down and lender gifts 2%. Who is the investor on this loan?

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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
Replied

@Carole Hardcastle Painter

The lender is the investor that puts down the 2%. many lenders are advertising these. Usually with 700+ FICO. the buyer's 1% can still come from family. Usually income restrictions.

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