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 credit score 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.