A lot of low down payment programs focus on first-time buyers. So, it makes sense that people assume this one works the same way.

But here is the good news: more buyers may qualify for the 1% down program than you think.

What Is the 1% Down Program?

The 1% down program helps qualified buyers purchase a home with less money out of pocket.

Instead of bringing a full 3% or 3.5% down payment from their own funds, eligible buyers may only need to contribute 1% of the purchase price.

A gift may cover the remaining down payment amount, depending on the loan program and buyer qualifications.

That can make a big difference for buyers who have good income and can afford the monthly payment, but do not have a large amount saved for a down payment.

Is the 1% Down Program Only for First-Time Buyers?

The 1% down program does not exclude buyers who have owned a home before.

Some buyers assume they cannot qualify because they are selling a home, moving up, or buying again after renting for a while.

Depending on the loan type, credit profile, income, and overall scenario, repeat buyers may still be able to use the 1% down program.

That is why buyers should check eligibility before assuming their answer is no.

Who Could Benefit From the 1% Down Program?

The 1% down program can help buyers who look strong in one area but feel short in another.

For example, a buyer may have:

• Good income
• Stable employment
• Manageable monthly debt
• Enough money for closing costs
• Limited savings for a large down payment

This type of buyer may feel ready for homeownership, but the upfront cash requirement can create the biggest hurdle.

The 1% down program may help bridge that gap.

It may also help buyers keep more money available for moving expenses, furniture, repairs, upgrades, or lowering their interest rate with a temporary or permanent buydown.

First-Time Buyer or Not, Eligibility Still Matters

Even though the 1% down program is for all buyers, they still need to qualify.

A lender like our team at Houzd Mortgage will review credit score, income, employment, debts, loan type, and overall ability to repay the mortgage.

The program may offer FHA and conventional loan options, depending on the buyer’s situation.

This flexibility matters because every buyer’s file looks different.

One person may fit better with FHA. Another may fit better with conventional. The right option depends on the full picture.

Why This Matters

This misconception matters because we’ve found that many buyers may rule themselves out too early.

They may think:

“I already owned a home, so I probably do not qualify.”

“I’m not a first-time buyer, so this is not for me.”

“I need to save a full down payment before I can buy.”

Those assumptions can delay someone’s plans for months or even years.

Sometimes, the better move is to review the numbers now. Even if you are not ready today, you can still learn what options are available and what steps to take next.

The Bottom Line

The 1% down program is not just for first-time buyers.

Qualified repeat buyers, move-up buyers, and buyers who have owned a home before may also be able to use it.

If the monthly payment fits, but the down payment feels like the roadblock, this program is worth looking into.

Before assuming you do not qualify, let’s run the numbers and review your options.

You may be closer to buying a home than you think!

Written by Anthony VanDyke, Utah Mortgage Broker — NMLS #247102 — President at Houzd Mortgage in Draper, Utah.

A mortgage broker since 2006, Anthony has helped thousands of Utah families build a stronger financial future, one home at a time. He believes a mortgage isn’t just a loan — it’s a long-term financial strategy that can shape a family’s wealth and peace of mind.

See what you qualify for with Anthony’s Purchase Qualifier Tool.

The post Is the 1% Down Program Only for First-Time Buyers? appeared first on Houzd.

The Conventional 1% Down Loan Program allows qualified homebuyers to purchase a home with just 1% down—thanks to Houzd Mortgage covering 2% of the down payment (up to $7,000). This program helps reduce upfront costs, enabling buyers to enter the market sooner and with less financial strain.

“Many potential buyers put their dreams of homeownership on hold because saving for a 20% down payment feels overwhelming,” said Anthony VanDyke, founder of Houzd Mortgage. “Our 1% down program breaks down that barrier by providing down payment assistance, so more people can start building equity and achieving their goals.”

This new offering is especially timely given today’s rising home prices and rental costs in the Salt Lake City area. By lowering the initial cash needed, Houzd Mortgage empowers clients to stop renting and start investing in their futures.

Interested buyers can contact Houzd Mortgage directly to learn more about eligibility, program details, and how this loan option might be the perfect fit for their homebuying journey.

The post Houzd Mortgage Launches Innovative Conventional 1% Down Loan Program to Help Utah Homebuyers appeared first on Houzd.

When I first met them in December, just months before their June wedding, we ran the numbers together. They were paying $2,600 a month renting a townhouse, but the payments on the homes they liked felt a little too high for their comfort. So we came up with a plan: save a little extra while they prepared for their wedding, and buy a house right after.

Well… weddings are expensive, and by June, they’d spent nearly all their savings on an amazing day filled with memories (I saw the photos—gorgeous bride, great party). Suddenly, their down payment looked like a much bigger hurdle than before.

That’s when the Conventional 1% Down Loan Program stepped in.

It’s actually a 3% down payment mortgage program, but I cover 2% of that (up to $7,000) to help first-time homebuyers get into a home without breaking the bank. When I showed Taylor and Ben the new numbers, the relief was immediate. Taylor may have said “oh my gosh” about a dozen times as it finally felt real: their dream was within reach.

After looking at a dozen or so townhomes, there was one last showing. It was perfect. Big bright windows, a spacious dining area—and the best part? Taylor’s beloved grandmother’s antique kitchen table fit like it was made for the space. That table meant the world to her, and now it would have a home.

Taylor and Ben are now under contract on their beautiful new townhome with a down payment of just 1%—and a whole lot of hope for their future.

Ready to see if the 1% down conventional loan program is right for you?

Don’t let down payment worries hold you back from homeownership. Whether you’re just starting to look or ready to take the next step, I’m here to help you understand your options and create a plan that fits your budget.

Reach out today for a free consultation—let’s chat about how we can get you into your own home sooner than you think.

Your dream home could be closer than you think.

APPLY NOW

The post How Taylor and Ben Bought Their First Home with Just 1% Down — A Salt Lake City Success Story appeared first on Houzd.

Buying a home in Utah just got a whole lot easier (and yes, we’re cheering right along with you). Thanks to an exciting new option available through Houzd Mortgage, you can now purchase a home with as little as 1% down — making homeownership more affordable and accessible for more Utah families.

What Is the 1% Down Program?

The 1% down home loan Utah buyers are loving allows you to contribute just 1% of the purchase price as your down payment. Houzd Mortgage then kicks in an additional 2% (up to $7,000), helping you reach the typical 3% minimum down payment requirement.

This means you can keep more of your savings for important things, like moving expenses, new furniture, emergency funds, or even buying down your interest rate to save on monthly payments long-term.

Who Can Qualify?

While income limits do apply, this program was designed to help more Utahns — especially first-time homebuyers and those who have found it tough to save for a traditional down payment. It’s a fantastic way to finally step into the market with less financial stress and start building equity sooner.

Why This Program Matters

For many buyers, the down payment is the biggest barrier to homeownership. The 1% down home loan Utah offers helps remove that obstacle and opens the door to owning a home sooner than you might have thought possible. Instead of waiting years to save up a larger down payment, you can start creating memories in your own home now.

Ready to Learn More?

If you’re curious about how this program could work for you, contact Houzd Mortgage today. Our friendly, experienced team is here to answer every question and guide you step by step. Let’s make your dream of owning a home in Utah a reality — without the heavy upfront cost.

The post How to Buy a Home in Utah with Just 1% Down appeared first on Houzd.