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Zillow offers 1% down payment to lure homebuyers as mortgage rates hit 22-year high

Posted on AllSides August 25th, 2023
From The Right

Zillow announced that it’s offering mortgages with a 1% down payment to US homebuyers who are being squeezed by mortgage rates, which climbed to a 22-year high earlier this week.

Zillow debuted its 1% down payment program on Thursday, agreeing to contribute an additional 2% at closing in an effort to “reduce the time eligible homebuyers need to save [money],” the real estate marketplace said in a statement.

“Most markets are in the midst of an affordability crisis, and saving for a down payment remains one of the biggest barriers for many...

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https://nypost.com/2023/08/25/zillow-offers-1-down-payment-to-buyers-squeezed-by-high-mortgage-rates/

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