Home loans that work within your budget.
Horizon Bank is dedicated to the home borrowing needs of all of its customers. Our team of expert mortgage advisors and affordable housing assistance programs may help qualified homebuyers achieve successful homeownership.
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, down payment assistance program or borrowers own funds
- No private mortgage insurance (PMI) requirement
- are low- to moderate-income borrowers purchasing a home in any area located in the Horizon Bank geographic area.
- have a credit score of 580.
- are purchasing a home in a Horizon Bank assessment area.
- have non-traditional credit.
Fannie Mae@ requires borrowers to take the Framework® homeownership course to prepare for sustainable homeownership. When you educate yourself for smart homeownership with Framework, you’ll navigate every step of the process with confidence.
HomeReady® Mortgage (Fannie Mae)
Benefits of HomeReady Loan
- Affordable conventional financing with a minimum down payment of 3%
- Supports manufactured homes up to 95%
- Combine loan-to-value of 105% with down payment assistance
- are creditworthy low- to moderate-income borrowers with the expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted areas.
- have a credit score of 620+.
- have non-traditional credit.
- take the Framework® homeownership course to prepare you for sustainable homeownership.
HomeStyle® Renovation Mortgage (Fannie Mae)
Benefits of HomeStyle Loan
- Permits borrowers to include financing for home improvements in a purchase or refinance of the 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 97% loan-to-value owner-occupied and up to 90% loan-to-value 2nd home (both single-family residence)
FHA (Federal Housing Administration) Loans
FHA loans, offered through the Federal Housing Administration, assist homebuyers in overcoming many of the obstacles of owning a home. This loan is a great option if you have limited funds for a down payment, have "less than perfect" credit, or need to complete repairs on a home that is being purchased or currently owned.
Benefits of FHA Loans:
- Low down payment requirements1
- Flexible qualification guidelines
- Fixed-rate, fixed-term mortgages insured by the government
- Allows a co-applicant to help you qualify even if the person doesn't live in the home
VA (Veteran's Affairs) Loans
A VA loan is an option for those who are on active duty, reservist, or a veteran. Also an option for those who are an eligible family member of a former service member.
- Little or no down payment
- Up to 100% financing
- No mortgage insurance (PMI)
- Fixed-Rate, fixed-term loans
- Option to reduce interest rate in future with Interest Rate Reduction Refinance Loan (IRRRL)
USDA/Rural Development Section 502
USDA/Rural Development loans are ideal if you are looking to buy or refinance a primary residence located in an eligible rural area, have "less than perfect" credit, or have limited funds for a down payment.
Benefits of USDA Loans:
- "Zero Down" down payment options1
- Closing costs can be financed with a loan
- A loan guaranteed by U.S. Government
- Competitive rates with fixed terms
- No maximum purchase price