Introducing Conventional 1% Down With Equity Boost
YOU PUT DOWN 1%,
YOUR LENDER CONTRIBUTES 2%*,
GIVING YOU 3% EQUITY AT CLOSING!
COMPARE THE EQUITY BOOST TO UTAH HOUSING
Utah Housing
Sales Price $250,000
Loan Amount $250,000
Closing Fees $5,966
Interest Rate 4.50%
Apr 4.66%
Total Pmt Piti $1,506
Cash Needed $500
Equity In Home $0
1% Equity Boost
Sales Price $250,000
Loan Amount $242,000
Closing Fees $6,816
Interest Rate 4.50%
Apr 4.69%
Total Pmt Piti $1,461
Cash Needed $2,500
Equity In Home $7,500
With the equity boost program, you have more equity and a lower payment without mortgage insurance.
As a conventional loan your closings are faster and appraisals have less conditions. There are fewer income restrictions and the borrower can even use the home as a rental after the 1st year.