1% Down Mortgages

How The 1% Down Program Works?

By utilizing the One Percent Down Program first-time home buyers can now purchase a home with as low as 1% Down. The required down payment for a typical loan is 3% of the home’s sales price. With this program  the lender contributes the other 2% towards the down payment. This loan program is available to qualified first-time homeowners utilizing a conventional 30-year fixed rate loan mortgage. 

Use the form below or call us at 651-459-6000. Tell us who you are and briefly explain your needs and we’ll get back to you asap!

Program Details:

  • Lender contributes 2% towards your down payment
  • The remaining 1% down payment required can be a gift from a family member
  • The 2% lender contribution NEVER has to be paid back
  • Loan program is a conventional loan for first time home buyers
  • Qualifying income can’t exceed 100% of the area median income
  • Minimum credit score of 700 required
  • Seller can contribute for closing costs and prepaid expenses (taxes, insurance, etc.)
  • Flexible loan approval guidelines
  • Home must be owner-occupied (No rental properties)
  • Competitive interest rates
  • No prepayment penalties

1% Down Quick Form

Tell us who you are and briefly explain your needs and we’ll get back to you asap!

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Home Purchase info


We work with many trusted lending sources to find the right fit for your specific situation.

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  • Stearns Lending Logo
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  • Impac Logo
  • Trustone Logo
  • Sunwest Logo
  • Usbank Logo
  • Freedom Mortgage Logo
  • Ethos Logo
  • New Penn Logo
  • Ditech Logo
  • Uwm Logo
  • Home Point Financial Logo
  • Plaza Home Mortgage Logo
  • Flagstar Bank Logo



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    Granite Mortgage Company Logo

    Granite Mortgage Company
    3459 Lake Elmo Ave N
    P.O. Box 881
    Lake Elmo, MN 55042

    NMLS# 285381

    Licensed Mortgage Originator in the State of Minnesota
    Licensed Mortgage Broker in the Sate of Wisconsin

    © 2016 Granite Mortgage Company  equal housing lender

    Granite Mortgage Company Logo

    Granite Mortgage Company
    3459 Lake Elmo Ave N
    P.O. Box 881
    Lake Elmo, MN 55042
    Main Number:
    651-459-6000
    Fax Number:
    651-459-6700