Guild Mortgage 1% Down Program

Guild Mortgage 1% Down Program is a grant for homebuyers in Statewide, California. 1% borrower + 2% Guild grant = 3% down. Conventional product. HomeReady / Home Possible compatible. Borrower 1% down + Guild contributes 2% = 3% effective conventional down payment. Pairs with Fannie Mae HomeReady or Freddie Mac Home Possible. This is a nationwide program, so it is available beyond a single state or city. Funding comes from Guild Mortgage.

Guild Mortgage 1% Down 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.

Guild Mortgage 1% Down Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Required - HUD-approved. Sourced via Homebuyer Wallet (NAT250043). Must be first-time homebuyer at <= 80% AMI. Property must be primary residence. Pairs with HomeReady or Home Possible.

Guild Mortgage 1% Down Program sets its income limit as follows: At or below 80% area median income. The limit applies to total household income, not only the borrower&rsquo;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.

Guild Mortgage 1% Down Program can be used for Single-family, Condo, Townhouse.

Guild Mortgage 1% Down Program is a nationwide program, so it is not limited to one state.

Applications for Guild Mortgage 1% Down Program go through the administering agency. 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.