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Jenniffer Bott

Mortgage 1 Inc
Loan Officer

Own a Home 3% Down


MSHDA  Down Payment Assistance


Can You Really Own a Home with 3% Down? The 3% down payment option is similar to existing conventional loan programs with much higher requirements and can help meet the needs of 1st-time home buyers in the following ways:


  • The mortgage provides the security of a fixed rate loan.
  • The property can be a one-unit single family home or condo.
  • At least one borrower has not owned a home in the last 3 years.
  • The property will be the new owner’s primary residence.
  • The loan amount is below $453,101

According to the National Association of Realtors, the average home price is around $250,000. The 3% down conventional loan is a great way to expand home buyers purchasing power.

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Apply On-Line with Digital Mortgage in a SNAP >>










There are many good reasons to refinance your home;


  •     Eliminate PMI Payments
  •     Reduce Monthly Mortgage Payments
  •     Consolidate Debt
  •     Reduce the Mortgage Term


As an experienced Mortgage 1 professional I would  be happy to review all your options to see what works best for you.




View 5 Reasons to Refinance >





The Michigan State Housing Development Authority (MSHDA) offers down payment assistance to people with no monthly payments.


The down payment program offers assistance up to $7,500. (or 4% of the purchase price, whichever is less.) The funds can be spent on closing costs, prepaid expenses homeowners insurance or property taxes) and the down payment itself. Borrowers still required to provide at least 1% of the loan amount themselves.


The down payment assistance is repaid when the home is sold, the mortgage is refinanced or the home loan is paid off in full. It has a 0% interest rate.


Mortgage 1 has been MSHDA’s #1 lender since 2014.

Michigan home buyers that have not owned a home in the last three years can fit into the first time home buyer classification. That means that if they owned a home but lost prior to three years ago, they may be able to get a fresh start under these programs.


MSHDA Eligibility requirements;


  • Available for credit scores as low as 640
  • The alternative credit review is available for some borrowers who have no credit score
  • The minimum down payment is 3% and down payment assistance is available
  • Available to first-timers as well as repeat home buyers in economically disadvantaged target areas
  • You have your choice of conventional, FHA, VA or USDA loans
  • The home has to be your primary residence
  • The 2018 sale price limit is $224,500
  • There are income limits that vary by location
  • The overall debt-to-income ratio of 45% or less
  • Borrowers must attend a homebuyer education course if you receive down payment assistance
  • Borrowers have to contribute at least 1% of the loan amount.


The best MSHDA team is Mortgage 1- we look forward to working with you.

Ready to apply?  Try our digital mortgage called SNAP Mortgage now >>




Jenniffer's goal is to provide world class service:
to answer any questions and make the lending process a wonderful experience for her clients.

Jenniffer Bott >>

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Jenniffer Bott  NMLS:1720026 |  45679 Village Blvd, Shelby Charter Twp, MI 48315
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First TIme Home Buyer Tips

10 First Time Home Buyer Tips Buying a home can be one of the most exciting and rewarding things you ever do. How you experience the home buying process depends entirely on how well prepared you are and how knowledgeable your Lending professional is. here are 10 First Time Home Buyer Tips to get you started.

1. Get Pre-Approved

Pre-approved home buyers get preferential treatment when negotiating home purchases. Why? Because pre-approved buyers are financially qualified to purchase the home and are considered more serious than buyers who are pre-approved. Nothing feels worse than finding the ideal home in the perfect area and then not being able to get financing. A pre-approval will provide a reality check prior to considering a home that  you cannot afford.

First TIme Home Buyer

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When Is Refinancing
The Right Choice?

There are many good reasons to refinance your home;


    Eliminate PMI Payments

    Reduce Monthly Mortgage Payments

    Consolidate Debt

    Reduce the Mortgage Term


As an experienced Mortgage 1 professional I would  be happy to review all your options to see what works best for you.