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 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%.