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Horizon Bank Allocates $2.5 Million Toward Specialized Loans Promoting Home Ownership and Revitalization


Michigan City, Indiana — Horizon Bank has allocated $2.5 million to fund home ownership and home improvement loans in low- to - moderate income neighborhoods throughout Horizon’s market area in Indiana and Michigan. The loans are designed to assist borrowers in three categories of need: obtaining a home for the first time, making repairs to a home they already own, and re-establishing good credit while building a savings fund that can be used toward a mortgage down payment.

James D. Neff Executive Vice President, Mortgage Banking at Horizon Bank said, “We exceeded our $1 million Home Ownership and Revitalization goal in 2015 and we continue to see borrowers who are in need of alternative loan programs, down payment assistance and help with credit repair.  Based off these continued needs, Horizon has increased its commitment to these programs for 2016 and set aside $2.5 million targeting low-to-moderate income neighborhoods within all markets Horizon serves in Indiana and Michigan.  These Loan programs offer more flexible terms allowing customers to rebuild their credit history, buy their first home or make necessary improvements to an existing home.”

Under the Home Ownership Revitalization umbrella, Horizon is offering three lending options to accommodate customers’ diverse needs:

  • Home Improvement Program — Offered exclusively through Horizon Bank, this program supports homeowners in making necessary improvements, to enhance the livability or energy efficiency of their homes. This can include replacement of furnaces, windows, and roofs, or other important repairs. For this program, Horizon has relaxed underwriting guidelines to allow more people to qualify.
  • Home Ownership Program — This program helps first-time home buyers purchase a home by using federal grant funds of up to $10,000 toward a down payment.
  • Fresh Start Loans — These secured loans are offered specifically for applicants who have experienced credit issues, and as a result, do not qualify for traditional loan programs. Under this program, the borrower has the opportunity to re-establish their credit history, while at the same time creating a savings fund that can later be used toward a down payment on a home.

The Home Ownership and Revitalization lending program is an extension of Horizon Bank’s commitment to serving the local communities in its market, throughout Indiana and Michigan. Combined together, these programs are aimed at helping individuals achieve their financial goals, while also enhancing the stability of the communities.

As Yolanda Davis, Horizon’s Community Reinvestment Act Officer notes, “We are excited to increase the allocated funds and extend the program for another year!  We are actively helping individuals become financially stable by obtaining home ownership.  Our goal is to continue to make a positive impact in the low-to-moderate income areas of our markets."

To learn more about these or any of Horizon Bank’s diverse home mortgage and lending opportunities, call Yolanda at (219) 877-0451 or email   To find details on all of the bank’s community outreach programs, visit

About Horizon Bank

Horizon Bancorp is a locally owned, independent, commercial bank holding company serving Northern and Central Indiana and Southwest and Central Michigan through its commercial banking subsidiary Horizon Bank, NA. Horizon also offers mortgage-banking services throughout the Midwest. Horizon Bancorp may be reached online at Its common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.

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Contact:  Amy Phares
Public Relations Coordinator
Phone: (219) 874-9208
Fax:     (219) 873-2628



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