We’re excited to launch our unique 1% conventional down payment assistance program that is sure to help more homebuyers into homes. The program works like this: the homebuyer puts one percent down, Guild provides a two percent grant, creating three percent in equity. That means that homebuyers can own a $200,000 home with $2,000 down.
This program supports our focus on helping more people gain access to homeownership. Here’s what you need to know: this can only be used by owner-occupied homebuyers to purchase a one-unit property, including condos. Homebuyers must have a 680 minimum FICO and earn less than the area median income. There are no first-time homebuyer requirements – homebuyer education is required.