Brought to you by The Cantrell Team | How the 1% Down Mortgage Works and Who Benefits

There are 1% down mortgages available for those with a modest income and a 620 credit score.
Borrowers make a 1% down payment, and lenders provide the remaining 2% as a non-repayable grant.
Pros: 1. Minimal upfront costs 2. The opportunity to use savings for other expenses
Con: 1. Restricted eligibility 2. ↑ Risk of negative home equity