Zillow is now offering mortgages where buyers only need to put down 1% on a down payment.

<div class="block">Zillow is now offering mortgages where buyers only need to put down 1% on a down payment.</div>

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Zillow Offering 1% Down Payment on Mortgages

Online real estate marketplace, Zillow and some other news is now offering mortgages where buyers only have to put down 1% as a down payment on the property. The company is offering to pay an additional 2% at the closing. Making that overall down payment equal 3% is only offering this in Arizona for now and hopes to expand to other states. But it comes as us mortgage rates have hit their highest level in 22 years. The average 30 year fixed mortgage rate was 7.2% this past week. According to data from Freddie Mac, that's up from 7.1% the week before and about 5.5% a year ago.