Affordable Loan Options

Horizon Bank is dedicated to the home borrowing needs of all of its customers. If you're thinking about buying a home, our expert mortgage loan officers can tell you about the affordable housing assistance programs in which Horizon Bank participates. When combined with an eligible loan, these assistance programs can help qualified homebuyers achieve successful homeownship. 


HomePride Loan 

        Benefits of HomePride Loan:

  • Fixed-rate or 10/1 year adjustable rate
  • Up to 95% loan-to-value (LTV) financing
  • Down Payment: can be from a gift, downpayment assistance program or borrowers own funds
  • No private mortgage insurance (PMI) requirement


Option for those who:

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HomeReady® Mortgage (Fannie Mae)

        Benefits of HomeReady Mortgage:

  • Affordable conventional financing with minimum down payment of 3%. 
  • Supports manufactured homes up to 95%
  • Combine loan-to-value of 105% with down payment assistance

Fannie Mae's HomeReady Program

Options for those who:

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HomeStyle® Renovation Mortgage (Fannie Mae)

        Benefits of HomeStyle Mortgage:

  • Permits borrowers to include financing for home improvements in a purchase or refinance of existing home which means lower closing costs and typically a lower interest rate on a first mortgage
  • 15- and 30- year Fixed rate mortgage 
  • One loan closing
  • Up to 95% loan-to-value owner occupied and up to 90% loan-to-value 2nd home (both single family residence)

 Fannie Mae's HomeStyle Renovation Program

Options for those who:

  • economical way for borrowers considering moderate home improvements to make repairs and renovations 
  • Credit score 620+

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