On the same day, Zillow Home Loans published a press release about its new "1% Down Payment program to allow eligible home buyers to pay as little as 1% down on their next home purchase." 

"This program can reduce the time needed to save for a down payment and provide another option for those who are otherwise ready to take on a mortgage payment," Zillow said, adding the new program will first be available for Arizona properties, with nationwide expansions sooner after: 

With the 1% Down Payment program, borrowers who qualify can now save just 1% to cover their portion of the down payment and Zillow Home Loans will contribute an additional 2% at closing. The 1% Down Payment program can reduce the time eligible home buyers need to save and open homeownership to those who are otherwise ready to take on a mortgage.