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Own Your Home with Just 1% Down

Put 1% Down and 2% will be covered by us.

1% Down

A Smart, Affordable Path to Homeownership – Now Available Through Chevy Chase Financial

How the Program Works

  • You contribute 1% of the home’s purchase price
  • UWM contributes 2% (up to $7,000) toward your down payment
  • You benefit from 3% total down — the minimum needed to qualify for many conventional loan programs
  • No repayment required for UWM's contribution
     
This program combines flexibility, speed, and affordability—ideal if you're ready to buy but still working on savings.

Eligibility Guidelines

  • To qualify, you must meet the following:
  • Income: ≤ 80% of your Area Median Income (AMI)
  • Credit Score: Minimum 620 FICO
  • Loan-to-Value (LTV): 97% max
  • Property Type: Owner-occupied primary residence
  • Loan Amount: Must fall within conforming loan limits
  • Approval: Must be eligible via Fannie Mae HomeReady® or Freddie Mac Home Possible® (automated approval through DU or LPA)

Program Benefits

  • Lower upfront cost: Only 1% down from you
  • Up to $7,000 in assistance: Provided by UWM—no repayment
  • Increased affordability: Keep more money for moving costs, home furnishings, or emergency savings
  • Faster path to ownership: Less time waiting to save a big down payment

Things to Know

  • Purchase only: This program is not available for refinances
  • Limited-time opportunity: Previously capped at $4,000, the new $7,000 cap could be adjusted again
  • Available only through mortgage brokers: You must work with a UWM-partnered broker—like Chevy Chase Financial

🗓 Ready to Take the First Step?

  • At Chevy Chase Financial, we’ll guide you through the process, check your eligibility in minutes, and help you compare this program with others that might work even better for you.

    📞 Talk to a Loan Advisor Today or Apply Now below
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