Lower Launches ONE by Lower to Expand Access to Homeownership with as Little as 1% Down

Program combines a 1% borrower contribution with a 2% lender grant, up to $4,500 for qualified buyers

COLUMBUS, Ohio, Aug. 5, 2026 /PRNewswire/ -- Lower, an end-to-end homeownership platform built to help our members build wealth and achieve financial freedom, today announced ONE by Lower, a new mortgage program designed to help homebuyers overcome one of the biggest barriers to homeownership: saving for a down payment.

With ONE by Lower, eligible buyers contribute as little as 1% down from their own funds, while Lower provides a 2% lender grant, up to $4,500, toward the down payment. The grant does not require repayment, has no recapture provision, and carries no resale restrictions, giving eligible buyers another way to reduce the upfront cash required to purchase a home.

Compared with other affordable home financing options, including Federal Housing Administration (FHA) loans, ONE by Lower can significantly reduce the upfront cash eligible buyers need to bring to closing. While FHA loans generally require a 3.5% down payment for borrowers with a qualifying credit score of 580 or higher, ONE by Lower allows eligible buyers to purchase with as little as 1% down from their own funds, saving up to 2.5 percentage points less towards the down payment compared to an FHA loan.

"I got into this business to help more people achieve the American dream of owning a home, which remains one of the most powerful ways to build wealth in this country," said Dan Snyder, CEO of Lower. "With ONE by Lower, we're launching an innovative new mortgage product and investing millions of dollars to help our members achieve homeownership and build a strong financial future."

As elevated home prices, mortgage rates, and inflation continue to challenge affordability, saving for a down payment can be difficult for many aspiring homebuyers. ONE by Lower was created to ease the upfront financial burden of buying a home by reducing the amount eligible buyers need to bring to closing, helping more people become homeowners.

"Every day, we meet buyers who have the credit and income to afford a mortgage but can't overcome the hurdle of saving for a down payment," said Craig Montgomery, Chief Strategy Officer at Lower and President of Lower's Retail Division. "These are the first responders, teachers, mail carriers, and countless others who keep our communities running. ONE by Lower removes one of the biggest barriers to homeownership, making it possible for more hardworking Americans to buy a home and begin building long-term wealth."

ONE by Lower is available to eligible first-time and repeat homebuyers. To help ensure the program benefits buyers with the greatest need, the maximum loan amount is $375,000, and total household income cannot exceed 80% of the Area Median Income (AMI) where the property is located. Loans through ONE by Lower are subject to underwriting guidelines and program requirements, which may change over time.

To learn more about ONE by Lower, please visit lower.com/one-by-lower.

About Lower
Lower is the homeownership platform built to eliminate barriers for first-time buyers and help new homeowners build wealth. Headquartered in Columbus, Ohio, Lower is a top 25 mortgage lender nationally and the largest VC-backed mortgage lender in the country, with backing from Accel and SoFi. Lower's proprietary lending technology, LowerOS, is designed to originate loans faster and for less money than the competition. Lower also owns Movoto, one of the largest real estate portals in the U.S. with more than 10 million monthly visits. Learn more at lower.com. 

ONE by Lower Information
Lower, LLC | NMLS ID# 1124061 | 5950 Symphony Woods Road Suite 312 Columbia, MD 21044 | Equal Housing Opportunity | https://nmlsconsumeraccess.org/ | Not an offer of credit or commitment to make a loan; all approvals subject to underwriting guidelines including but not limited to credit, income, and debt ratio requirements. Rates and loan programs vary and are subject to change at any time without notice. Program subject to special underwriting review and qualifying limitations, including maximum loan amount, purchase price, and income limits (income cannot exceed 80% of AMI). Available on single-unit properties only; minimum credit score required. Lender grant (up to 2%, max $4,500) provided by Lower, LLC; does not cover closing costs, has no repayment obligation, recapture, or resale restriction. Available to first-time and repeat buyers who qualify; Homebuyer Education Class or First-Time Homebuyer status may be required. Seller concessions may still apply toward closing costs. Program terms, availability, and eligibility are subject to change without notice. Other restrictions may apply.

SOURCE Lower, LLC