1% Down Mortgage Program

The Iowa Mortgage Solutions (IMS) 1% down program.

A Quick Look:

  • You put down 1%, your lender contributes 2%*, giving you 3% equity at closing
  • 620 eligibility to be eligible for base grants
  • 680 credit score and above could receive up to 4.5% in lendor grants.
  • Close in 30 days or less
  • 30-year fixed rate
  • Available with no monthly Mortgage Insurance
  • Location determines income limits. Map here

Equity in your home the day you close.

The 2% grant from your lender combined with a 1% down payment starts the homeowner with 3% equity in your home.

30 Year Fixed Rate

Fixed rate mortgages give certainty of knowing you are locked in at a low rate. No need to worry about fluctuating interest rates.

 

 

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