Skip to main content
FMB Logo Header Desktop
Scroll To Top


Dreaming of buying a home?

First Merchants Bank is here to help and will support you all along the way!

The First Merchants Next Horizon Mortgage makes affordable homeownership possible.

  • Low or no down payment - up to 100% financing
  • Lower monthly payment – no private mortgage insurance (PMI)
  • Down payment assistance - up to $7,500 Community Home Grant to cover closing costs, down payment funds or principal reduction for qualified applicants1


More accessible loan terms

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.

Eligibility Requirements and important information


  • Eligible for first-time home buyers and those looking to refinance across the First Merchants footprint. Repeat home buyers may be eligible in certain areas.
  • Single family homes, 2-unit homes, and warrantable condos only. Manufactured homes and mobile homes are ineligible.
  • Credit history must include three trade lines with 12 or more months of payment history (medical collections excluded).
  • 24 months of continuous employment required.
  • Home buyer counseling required.2

Your Community Home Lending Officer can help determine if a Next Horizon loan is right for you.  Take the first step and contact us.

1Eligibility requirements apply. First Merchants Down Payment Assistance Grants may be available for purchases in specific areas and/or for applicants meeting certain income and other eligibility requirements. See a Loan Officer for details. 2See a Loan Officer for additional information. Applicants with multiple bankruptcies are not eligible. Subject to all underwriting requirements and credit approval. Out-of-pocket closing costs may apply.