The Merit Loan

$0 Down Because You Deserve It!

Merit Loan - Down Payment Assistance
Up to 3.5% Grant Available

To those eligible borrowers who make our lives easier

Overview*

The Merit Loan is exclusive at A1 Mortgage and is designed to provide down payment assistance in the form of a grant equal to 2% or 3.5% of the purchase price to a wide variety of eligible borrowers. The Merit loan is offered by a governmental entity and may be used with the FHA 203(b) program or any of our FHA renovation programs; the 2% grant option is also available for the FHA One-Time Close Program.

Who's eligible for the Merit Loan?

In addition to helping first-time and moderate-income home buyers, The Merit loan is available to make like easier for those eligible borrowers who make our lives easier.

This includes borrowers who are current, retired, volunteer, non-paid, or plan to become:

  • First-responders (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT), including colunteers, or similar)
    Educators
  • Medical personnel (nurse, doctor, phlebotomist, health ambassador, or hospital, American Red Cross worker, or similar)
  • Civil servant in a federal, state, or local municipality
  • Military personnel
  • Eligible properties located in an undeserved census tract (Zip Code Lookup Tool)

Advantage

  • The Merit loan has two grant options available: a 3.5% grant and a 2% grant
  • May be combined with up to 6% seller concession for closing costs
  • No resale or borrower repayment restrictions
  • Minimum qualifying credit score: 620

Do you Qualify?