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The First Merchants Next Horizon Mortgage can help your dream of buying a home become a reality.

Buying a home can be a complicated and confusing process. But through our Next Horizon Mortgage, you can receive grants to get you started, a low or no down payment, and assistance from our lending experts to help you navigate the process.

First Merchants Next Horizon Home Buyer MortgageFirst Merchants Indy Next Mortgage

  • You may qualify for up to $7,500 in grant funds1
  • Long-term financing available
  • Competitive fixed rate
  • Low or no down payment2

Ask us about financial assistance1 and low or no down payment2

You may qualify for a grant from First Merchants of up to $7,500 to be used as closing cost and/or down payment funds.
First Merchants Wayne County Grant funds are available in select locations, ask us for details.

More accessible loan terms

You may find it easier to qualify for a First Merchants Next Horizon Home Buyer Mortgage than a traditional mortgage. We support nontraditional 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%.

Contact a Community Home Lender for More Information and to See if You Qualify


Tonjola D. Cole

Southeast Michigan - Detroit
6001 Cass Ave., Suite 3108
Detroit, Michigan 48202
Cell: 313.205.7487
Tonjola D. Cole website
NMLS #658375

Eligibility Requirements and important information

1First Merchants Wayne County Grant funding up to $7,500 per household will be used for any loan-associated cost appearing on Closing Disclosure and down payment funds. Excess funds will be applied as a principal reduction. No cash back at closing. To receive grant funds, you must provide a Certificate of Completion for “Home Buyer Course.” This course is available free of charge. May not be combined with other grants or closing cost programs. First Merchants grant guidelines apply. Grant funding is limited, available on a first-come, first-served basis. Eligible applicants include first time home buyers (you’ve never owned a home), applicants who have not owned a home in the last two years, or applicants who have been displaced from a marital residence due to divorce (you’ll need a recorded Quit Claim Deed). FICO Scores as low as 600 with 12 months of on-time payments (medical collections excluded). Subject to all underwriting requirements and credit approval. Income and/or property location eligibility requirements may apply. Ask us for details.

Pest and whole house inspections are required. This mortgage is limited to single-family residences only. Condominiums and manufactured housing are not eligible. You must use the property financed as your primary residence. You may have out-of-pocket closing costs. Property insurance and escrows required. Gift funds are allowed, must be from immediate family.

2See a  Community Home Lending Officer for complete details. Eligibility requirements apply.