Homes are more expensive than they used to be – we all know that.
That doesn’t mean it’s a bad time to buy a house, especially as low inventories have supported prices and the recent Case-Shiller Home Price report showed prices climbing yet again.
It’s just more of a challenge to find the right house at the right price since higher interest rates decrease the purchasing power of home buyers.
The chart above assumes a 20% downpayment, which some borrowers still believe is required to get into a home.
Now, thanks to ONE + by Rocket, you only need to put 1% down!
ONE + covers the mortgage insurance that normally comes with a downpayment of less than 20% so the you don’t have to.
This enables you to put less down AND maintain a lower monthly payment.
Since Rocket is also contributing 2% towards the your equity, you will be able to afford an additional $5,000 on the sticker price of a home in the example above – helpful, since homes are still selling above asking price.
ONE + is home run for many reasons, and although the headline is the 1% downpayment, the benefits address the top 4 biggest considerations of home buyers
