First Merchants Bank is here to help and will support you all along the way!
The First Merchants Next Horizon Mortgage offers you affordable homeownership.
- Up to 100% financing
- Lower monthly payment – no private mortgage insurance required
- Credit score of 600 or above
- Rent and utility payments considered as alternative credit sources
- Up to $7,500 Community Home Grant to cover closing costs, down payment funds or principal reduction for qualified applicants1
CONTACT A COMMUNITY HOME LENDER
More accessible loan terms
You may find it easier to qualify for a First Merchants Next Horizon Mortgage than a traditional mortgage. We support non-traditional methods of credit history documentation such as rent verification, insurance payments, mobile phone payments and others.
Lower monthly payments
Since private mortgage insurance (PMI) is not required for a First Merchants Next Horizon Mortgage, you avoid this expense. PMI is commonly required for traditional mortgages when making a down payment of less than 20%.
Down payment assistance
First Merchants is proud to offer up to $7,500 in grant funds to help with down payment and closing costs for qualifying borrowers. Applicants who purchase their home in a qualifying geographic area and/or meet certain income and other eligibility requirements
may qualify1. To view general maps of qualifying geographic areas, please see the ‘grant qualification maps’ below.
Grant qualification maps
Wondering if the home you are buying is located in a geographic area that could qualify for a grant? Use the tabs below to search by State and County. Please note that maps should not be solely relied upon to determine eligibility. To determine if you
qualify, contact a Community Home Lending Officer.