One Percent Down Payment?

[Letxy Sosa]

I subscribe to different news updates and today one caught my eye, the Guild Mortgage 1% down payment conventional loan. Link to the press release is below. I am in no way affiliated with Guild Mortgage, but I am curious to find out how it results, so if anyone checks it out please share your experience. 

https://www.guildmortgage.com/press-release/guild-mortgage-launches-innovative-1-loan-program-empowering-people-become-homeowners/