Own a Texas Home with Just 1% Down

Put down 1% of the purchase price and get the remaining 2% as a grant or lender credit — no repayment required.

What Is the 1% Down Program?

The 1% Down program allows qualified Texas homebuyers to purchase a home with just 1% of the purchase price as a down payment. The remaining 2% is covered by a grant or lender credit that you never have to repay. This makes homeownership accessible for buyers with limited savings but good credit and stable income.

Who This Program Is For

First-time and repeat homebuyers in Texas
Buyers with credit scores of 660 or higher
Those with limited savings but steady income
Families purchasing primary residences
Borrowers who can afford monthly payments but lack large upfront cash
Buyers purchasing homes below conventional loan limits

Key Benefits of 1% Down

Minimal Down Payment

Only 1% from your pocket. On a 00,000 home, that is just ,000

Grant or Credit for 2%

You receive an additional 2% that you never repay

Pre-Underwriting Certainty

Q Mortgage pre-underwrites your loan before you shop

No Repayment Required

The 2% grant or credit is yours to keep

Build Equity Faster

Lower upfront costs mean you can buy sooner

How It Works

Step 1: Verify Your Eligibility

We confirm your credit, income, and employment meet 1% Down program requirements.

Step 2: Get Pre-Underwritten

Q Mortgage pre-underwrites your loan so you have complete approval certainty.

Step 3: Bring 1% to the Table

You provide 1% of the purchase price from your savings.

Step 4: Receive the 2% Grant

The lender or program provides the additional 2% as a grant or credit.

Step 5: Shop for Your Texas Home

Find a home within your budget and make a strong offer.

Step 6: Close and Move In

Complete closing with just 1% down and move into your new home.

Qualification Requirements

Credit score of 660 or higher (some programs require 680+)
Debt-to-income ratio generally under 45%
Steady employment and income documentation
Property must be your primary residence in Texas
Loan amount must be within conforming limits
Completion of homebuyer education course (may be required)
Sufficient reserves (typically 2-3 months of payments)

Is 1% Down Right for You?

Choose 1% Down If...

Consider Alternatives If...

Frequently Asked Questions

Do I have to repay the 2% grant or credit?

No. The 2% is a true grant or lender credit that you never have to repay. It is yours to keep.

What is the maximum home price for 1% Down?

The program typically follows conforming loan limits. Your specific limit depends on the county and loan type.

Can I use 1% Down for a second home?

No. This program is for primary residences only.

What if I do not have 1% saved?

You may qualify for gift funds from a family member, or explore the $100 Down program for even lower upfront costs.

How does this affect my interest rate?

Interest rates on 1% Down loans are competitive and similar to conventional 3% down loans. Your credit score and market conditions determine your rate.

Can I combine 1% Down with other assistance?

In most cases the 1% Down program includes the grant or credit. Additional assistance is not necessary in most cases. Ask Q Mortgage about specific programs.

What happens if I sell within a few years?

There is typically no repayment requirement, but some programs may have occupancy requirements. Rules vary by program.

Does Q Mortgage pre-underwrite 1% Down loans?

Yes. We pre-underwrite all loans, including 1% Down, so you have complete confidence before making offers.

Start Your 1% Down Pre-Approval Today

Homeownership in Texas is within reach. The 1% Down program lets you buy with minimal upfront costs, and the additional 2% is covered by a grant you never repay. At Q Mortgage, we pre-underwrite your loan before you shop so you can compete with confidence.