Homeownership Just Got 2% Easier
Buy a home with just 1% down
Q Home Loans provides an additional 2% grant (up to $4,500) to help you get into your dream home
Why the 1% Home Program is a Game-Changer
Lower Barrier to Entry
Instead of saving 3-5% for a down payment, you only need 1%. On a $300,000 home, that's just $3,000 instead of $9,000-$15,000.
Instant Equity
With the 2% grant from Q Home Loans, you start with 3% equity in your home from day one. That's a significant head start on building wealth.
Not Just for First-Timers
Unlike many down payment assistance programs, the 1% Home Program is available to repeat buyers, not just first-time homebuyers.
How the 1% Home Program Works
You Contribute 1% Down
On a $300,000 home, you put down $3,000 (1% of the purchase price).
Q Home Loans Provides 2% Grant
We contribute an additional 2% (up to $4,500) toward your down payment. On a $300,000 home, that's $4,500.
Total Down Payment: 2.5%
Combined, you have a 2.5% down payment ($7,500 on a $300,000 home), giving you instant equity.
Stack with Seller Concessions
You can also negotiate up to 3% in seller concessions to cover closing costs, further reducing your out-of-pocket expenses.
Real-World Example
Purchase Price: $300,000
- • Your 1% down: $3,000
- • Q Home Loans 2% grant: $4,500 (capped)
- • Total down payment: $7,500 (2.5%)
Additional Benefits:
- • Seller concessions (up to 3%): $9,000
- • Total equity at closing: 2.5%
- • Your out-of-pocket: As low as $3,000
Eligibility Requirements
Who Qualifies
- First-time homebuyers and repeat buyers
- Household income at or below 80% of area median income
- Purchase price up to $375,000
- Minimum credit score of 620
- Property must be primary residence
Program Details
- 2% grant up to $4,500 maximum
- Available for single-family homes, townhomes, and condos
- Can be combined with FHA, VA, or Conventional loans
- No repayment required (it's a grant, not a loan)
- Available in Washington and Idaho
Note: Income limits vary by county. Contact Marcus Vogt to determine your specific eligibility based on your location and household income.
How Does It Work?
You contribute a 1% down payment, and Q Home Loans provides a 2% grant (not to exceed $4,500), giving you automatic 3% equity in your home at closing.
To sweeten the deal, customers who qualify for this program may contribute up to a 3% down payment and still receive the 2% lender grant from Q Home Loans.
You don't have to be a first-time homebuyer to qualify, and there are no location restrictions.
Frequently Asked Questions
Do I have to repay the 2% grant?
No! The 2% grant from Q Home Loans is a true grant, not a loan. You do not have to repay it.
Can I use this with an FHA or VA loan?
Yes! The 1% Home Program can be combined with FHA, VA, or Conventional financing.
Am I eligible if I've owned a home before?
Yes! Unlike many down payment assistance programs, the 1% Home Program is available to both first-time and repeat homebuyers.
What is the income limit?
Your household income must be at or below 80% of the area median income (AMI) for your county. Income limits vary by location. Contact Marcus Vogt to determine your specific eligibility.
Can I negotiate seller concessions on top of the 1% Home Program?
Yes! You can negotiate up to 3% in seller concessions to cover closing costs, further reducing your out-of-pocket expenses.
What types of properties qualify?
Single-family homes, townhomes, and condos are eligible. The property must be your primary residence.
Ready to Make Homeownership More Affordable?
Let's discuss how the 1% Home Program can help you achieve your homeownership goals with less money down.
NMLS #2033515 | Licensed in Washington and Idaho