✓ Covers 20–30% of the purchase price through a 2nd mortgage
✓ 2% fixed interest with interest-only payments for 30 years
✓ No down payment, no closing costs, and no PMI (with qualifying terms)
✓ Offers an additional 5% in down payment assistance
✓ Works alongside your 1st mortgage to reduce upfront and monthly costs
✓ A 30-year fixed-rate conventional mortgage
✓ Can be paired with both assistance programs above
Estimated monthly savings: $350–$450
No PMI, no down payment, no closing costs
Estimates based on a 7% interest rate. Actual payments vary by credit score, lender terms, and market rate. Payments exclude taxes, insurance, and fees.
✓ Purchase a primary residence in Kosciusko County
✓ Complete a homebuyer education course
✓ Be pre-approved for an eligible 1st mortgage
✓ Provide a $500 earnest money deposit
✓ Be either a first-time or repeat homebuyer
✓ Have a household income at or below $78,240 (based on HomePower’s limit)
Note: While Hoosier Homes allows for incomes up to $109,536 (140% AMI), applicants must meet the lower limit when using both programs together.
✓ Expand access to affordable, stable homeownership
✓ Strengthen neighborhoods in Kosciusko County
✓ Build long-term partnerships through community impact
