Guaranteed Rate Offers 1% Down Payment Loans to Borrowers Nationwide

Guaranteed Rate, the eighth largest retail mortgage lender in U.S., announced today a new nationwide 1% down payment mortgage program named Double Match. Qualified borrowers need only 1% down to buy their home and will receive an additional 2% grant through the program for down payment assistance.  Guaranteed Rate’s Double Match program lowers one of the biggest hurdles for many home buyers: saving enough for the down payment.  

 

Unlike other down payment assistance programs, the 2% Double Match grant is completely forgivable. The grant doesn’t even have to be repaid if the buyer moves or refinances. The Double Match program can be used to purchase condos, single family homes and town homes. It can also be coupled with a mortgage credit certificate, which allows homebuyers to claim a tax credit for some portion of the mortgage interest.

 

“Guaranteed Rate has helped over 500,000 happy customers find the right loan for their needs, and we are excited to help even more customers realize their dream of homeownership with the Double Match program,” said Victor Ciardelli, president & CEO of Guaranteed Rate. “Nothing is more frustrating than sitting on the sidelines watching home prices rise while you’re trying to save enough for a down payment, but the Double Match grant can help borrowers get into the homes they need faster and easier.”

 

The Double Match program can be applied toward loan amounts of $417,000 or less, and qualified buyers must have a FICO score of 680 or higher. Eligible income limits vary based on where the home is located, but these limits may be waived in certain areas.


Your mortgage. Your way.

Get started on your Digital Mortgage!
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.