The 1% down program is designed around the 3% conventional loan. HomeStar offers this loan in is a great program for borrowers with credit scores of 720 and above. Can be done than the 680 but does not have the benefits for high scores.
There are very few lenders offer this program, and is main benefit is you pick up more equity in the home quicker as a lender contributes two percent of the down payment. Another benefit of this program over USDA and FHA the monthly MI can drops off that 80%.
Under the video section is a movie about this program