Empowering 1st Generation Homebuyers with a 1% Down Payment Loan Program

Panorama Mortgage Group continues to overcome barriers to homeownership for minority and underserved communities.

LAS VEGAS, May 8, 2024 /PRNewswire/ -- Panorama Mortgage Group, LLC (PMG), a leading nationwide independent mortgage bank headquartered in Las Vegas, Nevada, operating under the DBA's Alterra Home Loans, Vision Mortgage Group, LEGACY Home Loans and Lone Peak Lending, announces the launch of an innovative and proprietary loan program that breaks down the barriers for first-generation, first-time homebuyers with its unique 1% down payment and 2% grant down payment assistance; known as the 1^st Generation Homebuyer (1^st Gen) loan program.

"We believe in dismantling barriers to homeownership and fostering financial empowerment," affirms Jason Madiedo, President, and CEO of Panorama Mortgage Group LLC. "Our 1st Gen loan program is a game-changer, designed to bridge the gap and pave the way for underserved communities to build generational wealth through homeownership."

The 1^st Gen program dovetails with overarching homeownership initiatives, and addresses certain challenges faced by borrowers pursuing their dreams of homeownership, which greatly differentiates 1^st Gen from prior iterations of first-time homebuyer programs.  The program uniquely combines a more expansive definition of eligible borrowers. 1^st Gen focuses on borrowers who are the first generation in their family to realize their homeownership dreams; something often seen as unobtainable by prior generations.  Another important feature of the program is the 2% grant does not have to repaid by the borrower.  Additionally, there are no property location or census tract constraints, which makes the program eligible within PMG's nationwide footprint.

This first of its kind program heralds a significant shift for families entrenched in the cycle of renting, where current market trends and intrinsic barriers make the pride of homeownership feel out of reach.

For 1^st Gen loan program questions please call our dedicated Hotline: (888) 704-1GEN (1436).
General information about PMG can be found at www.PMGLLC.com. 

About Panorama Mortgage Group, LLC:

Since 2007, Panorama Mortgage Group, LLC (PMG) is a nationwide minority led independent mortgage bank, licensed in forty-three states.  PMG focuses on providing innovative mortgage solutions to foster sustainable homeownership and building generational wealth in minority and underserved communities.

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SOURCE Panorama Mortgage Group