American Pacific Mortgage 1% Home Program

American Pacific Mortgage 1% Home Program is a grant for homebuyers in Statewide, California. 1% down + 2% lender grant = 3% total down. Combines with HomeReady or Home Possible conventional first mortgage. Borrower puts down 1%, lender contributes 2% — total 3% effective down payment. Available on Fannie Mae HomeReady or Freddie Mac Home Possible loans. This is a nationwide program, so it is available beyond a single state or city. Funding comes from American Pacific Mortgage.

American Pacific Mortgage 1% Home Program is structured as a grant, so it is not repaid. Repayment is triggered by none (grant). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

American Pacific Mortgage 1% Home Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Required - HUD-approved. Sourced via Homebuyer Wallet (NAT250046). Income at or below 80% AMI typically. Must be first-time homebuyer. Pairs with HomeReady or Home Possible.

American Pacific Mortgage 1% Home Program sets its income limit as follows: At or below 80% area median income (per HomeReady/Home Possible). The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

American Pacific Mortgage 1% Home Program can be used for Single-family, Condo, Townhouse.

American Pacific Mortgage 1% Home Program is a nationwide program, so it is not limited to one state.

Applications for American Pacific Mortgage 1% Home Program go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.