VA Loan (Veterans Loan)
• Available to Veterans (some restrictions apply)
• 100% Financing Available (640 Min Credit Score)
• Do Not have to be First Time Homebuyer
• No PMI (Private Mortgage Insurance)
Get Pre-Approved First
No Money Down Programs
USDA
• 100% Financing Available
• Do Not have to be First Time Homebuyer
• Reduced PMI
• Home Must Be Located In Targeted Area
• Minimium Credit Score of 640
• Program Income Limits Apply
• http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
Helping To Own (H2O)
• First-time homebuyers only, unless purchasing in a Targeted area
• FHA 30-Year fixed loans only
• 100% financing
• Down Payment Assistance (DPA) grant of 3.5%, does not have to be re-paid
• Program Income limits Apply
• Minimum credit score of 660
• Reservation fee $100
Neighborhood Loan Program
• Home must be located in a low to moderate census tract area to qualify for no income limits
• Or you can purchase anywhere with income limits of 50%-80% of the Median income for Tippecanoe County
• You do not need to be a first time home buyer
• Minimum credit score requirements 660
• No PMI
• Reduced closing cost
• Option for reduced interest rate
Grant Programs
Next Home Program
• Does not have to be a first time homebuyer
• Income limits apply
• 30 year fixed rate (set by IHCDA)
• Minimum credit score of 660
• FHA or Conventional financing eligible
• 2 year affordability period
• DPA – 3.5% of purchase price or appraised value, whichever is less for FHA or 3% of purchase price or appraised value, whichever is less for Conv
• No cash back at closing except for what the Mortgagor paid into the loan
• Reservation fee $100
• Available to Veterans (some restrictions apply)
• 100% Financing Available
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