Merchants Bank of Indiana is a Hoosier Homes approved lender offering up to 3% for down payment and closing costs assistance. The Hoosier Homes Down Payment Assistance Program helps low- and moderate-income individuals and families buy a home in approved areas in Indiana, potentially saving thousands in out-of-pocket expenses.
- 3% in down payment assistance and closing costs
- Conventional fixed rate mortgage loans
- No minimum borrower contribution required
- Competitive rates
- Minimum FICO credit score of 620
- Maximum income of $63,760 (Marion County)
- Debt to Income ratio up to 50%
- Must complete homebuyer education (if required)
- Must purchase one of the following types of homes: single family detached, townhome or condominium
- Must be a new purchase (no refinancing)
One more way, we are making it easy to bank with Merchants Bank!
Hop on Over!
This is a program advertisement and is strictly for informational purposes only. It is not considered an offer to extend credit. Products are subject to change without notice. For more information, please contact your Mortgage Loan Originator.NMLS 554119