Monday, October 6, 2025

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Rocket Mortgage Launches 1% Down Home Loan Program

Rocket Mortgage (NYSE: RKT) has launched a new 1% down home loan program called ONE+. The program is designed to make homeownership more affordable for millions of low-to-moderate-income Americans.

With ONE+, homebuyers are only required to make a down payment of 1% of the purchase price. Rocket Mortgage will cover the remaining 2% needed to reach the required threshold for conventional loans.

A homebuyer purchasing a $250,000 home will typically need a minimum of 3% down, or $7,500. With ONE+, they will only need a $2,500 down payment. Plus, ONE+ offers mortgage insurance at no cost to the homebuyer, which on a $242,500 loan, can be as much as $245 per month, or as much as $20,500 over the first seven years after closing.

“We know that homeownership is a dream for many Americans, but the high cost of a down payment can be a major barrier,” said Jay Farner, CEO of Rocket Companies. “ONE+ removes that barrier and makes homeownership more attainable for millions of people.”

The program is available to homebuyers purchasing single-family homes – including manufactured homes – whose income is equal to or less than 80% of their area median income (AMI). They must have a credit score of at least 620 and a debt-to-income ratio of no more than 50%. The company estimates that more than 90 million people can meet the income requirements for ONE+. The program is available in all 50 states.

The launch of ONE+ comes at a time when home prices are rising rapidly. The median home price in the United States is now over $400,000. A 1% down payment on a $400,000 home is only $4,000.

Last month, United Wholesale Mortgage (UWM) revived its conventional 1% down loan option, which similarly allows homebuyers to purchase a home with a 1% down payment.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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