The One Plus Mortgage Program is a low down payment home loan designed to help buyers achieve homeownership with significantly less upfront cash. This program allows qualified buyers to purchase a home with just one percent down while the lender contributes an additional two percent toward the down payment. Together, this creates a total three percent down payment, which meets the minimum requirement for many conventional mortgage options.
This approach helps remove one of the most common barriers to buying a home: saving a large down payment. Instead of waiting years to accumulate funds, eligible buyers can move forward sooner while still securing a stable and predictable mortgage.
With the One Plus Mortgage Program, the buyer contributes one percent of the purchase price using their own funds. The lender then provides a two percent grant that is applied directly toward the down payment. This grant does not need to be repaid and is not added to the loan balance.
For example, on a three hundred thousand dollar home, the buyer contributes three thousand dollars while the lender contributes six thousand dollars. The total down payment becomes nine thousand dollars, allowing the buyer to start with immediate equity in the home.
Most One Plus loans are structured as thirty year fixed rate mortgages, which means consistent monthly payments and long term stability.
The One Plus Mortgage Program is ideal for buyers who are financially ready to own a home but are limited by upfront cash.
This program works well for first time homebuyers who have stable income and acceptable credit but have not had time to save a traditional down payment. It can also be a strong option for repeat buyers who meet income guidelines and want to preserve their savings for emergencies, moving costs, or home improvements.
The program is designed for owner occupied primary residences, typically single family homes. Income limits apply and are usually based on a percentage of the area median income, ensuring the program supports moderate income households.
One of the biggest advantages of the One Plus Mortgage Program is the extremely low cash required to purchase a home. With only one percent down from the buyer, homeownership becomes more accessible without draining savings.
The lender provided two percent grant gives buyers immediate equity, which is a major benefit compared to many other low down payment options.
Because the loan is commonly offered with a fixed interest rate, homeowners benefit from predictable payments and easier budgeting over the life of the loan.
The program also allows buyers to maintain cash reserves for moving expenses, furnishings, repairs, or unexpected costs after closing.
Mortgage insurance is typically required with low down payment loans until sufficient equity is built. Income limits and loan amount caps may apply depending on location and program guidelines. The One Plus Mortgage Program is intended for primary residences and is not designed for investment properties or second homes.
A personalized review of income, credit, property type, and location is essential to determine eligibility and ensure this program aligns with your financial goals.
If you are ready to buy a home but have been held back by the challenge of saving a large down payment, the One Plus Mortgage Program may be the right solution. It is especially helpful for buyers who want to build equity sooner while keeping more money in their pocket.
If you are considering buying a home and want to see if the One Plus Mortgage Program is a good fit, now is the time to take the next step. I can help you review your income, credit, and homeownership goals to determine eligibility and guide you through the process with clarity and confidence.
Schedule a one on one consultation to explore this program and other low down payment options available to you.
Ebonie Beaco | NMLS #2389954
Licensed in AL, AR, FL, GA, IL, IN, KY, MI, MO & VA
Mortgage services provided by
Loan Factory, Inc. | NMLS #320841
Equal Housing Lender
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