1% DOWN PAYMENT MORTGAGE
Buy a House in Texas with Just 1% Down
It’s Time to Pay Yourself, Not Your Landlord.
With Austin Capital Mortgage’s 1% Down Payment Loan, you can break free from the rent cycle and start building equity now.
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What is a 1% Down Paymen Loan?
A 1% down mortgage is a loan that allows you to make a down payment of just 1% of the home's purchase price.
So, if the home costs $300,000, your down payment would be just $3,000.
That's a lot of savings compared to the traditional
3% you need (that would amount to a
$9,000
down payment).
Why should you get a 1% Down Payment Loan?
With the median home price in Texas rising 15% over the past year, waiting to save a large down payment could mean paying significantly more later.
Typically, the lowest down payment you can make on a conventional mortgage is 3%.
Some government-backed mortgages allow no down payment, but these loans are only available to borrowers who meet specific eligibility criteria (like being a military member or veteran, for instance).
For those that don't fall into those specific categories, a 1% down mortgage can be a good fit.
With our
1% down loan, you can secure
today’s prices and start building equity right away.
Hear From Our Happy Homeowners!
As Texas' top rated mortgage lenders, we have a stellar reputation with an average rating of 5 Stars ocross all channels: Google, Yelp, Zillow, BBB and Facebook.
Embed Google reviews1% Down Loan Requirements in Texas 2024
The specific requirements can vary depending on the lender and any additional state or local programs you might qualify for.

As Texas' top rated mortgage brokers, we find you the best local lenders with flexible requirements - based on your unique financial situation.
Here are the general eligibility requirements for a 1% Down Payment Loan:
Minimum Credit Score
Typically, a credit score of
620 or higher is required.
Income Requirements
Lenders will require W-2 forms, pay stubs, and possibly tax returns.
For self-employed individuals, additional documentation such as 1099 forms and profit-and-loss statements will be needed.
Some lenders may adjust income limits based on the area’s median income, especially in
Texas cities like Dallas and Austin with rapidly rising housing costs.
Debt-to-Income (DTI) Ratio
Most programs require a DTI ratio of
43% or lower, although some may allow up to
50% with compensating factors.
In Texas, if the property is in a flood zone, you may be required to purchase flood insurance, which is an added cost that some lenders might factor into your DTI.
First-Time Homebuyer Status
While not always a requirement, some lenders may give preference to first-time homebuyers or those who have not owned a home in the last three years.
Private Mortgage Insurance (PMI)
Since the down payment is
less than
20%, PMI is typically required, which adds to the monthly mortgage payment.
Property Location and Type
The property must be a primary residence and located within Texas.
The program typically applies to single-family homes, though some condos and townhomes may qualify depending on the lender.
Put your mortgage to
work
for you
Cash out
Leverage your investment and take advantage of the equity your home has built for years.
Great For
Renovating your home
Paying down high-interest debt
Lower payments
Increase your financial security by refinancing to lower your monthly mortgage payment.
Great For
Increasing cash flow
Saving for retirement
Reduce loan term
Why wait when you can refinance into a shorter term and pay your mortgage off.
Great For
Reducing interest
Paying off mortgages faster
FAQs
Got a question? We’re here to help.
