First Time Homebuyer Program
The First-Time Homebuyer Program is a new component of the City
of Mishawaka’s neighborhood initiative. It is designed to
provide homeownership opportunities to income-eligible families.
With the help of this program, fulfilling the American dream of
homeownership can become a reality for area residents. At the same
time, surrounding city neighborhoods are preserved and strengthened
by the quality of the newly constructed houses.
The First-Time Homebuyer Program will provide down payment and
closing cost assistance in the form of a 15-year forgivable loan
for new home construction in the City of Mishawaka, as well as infrastructure
improvements. The City will provide and clear the lots, prepare
surveys, construct new sidewalks and curbs and provide sewer and
water connections.
Building attractive, high quality houses that are designed to
blend with existing houses in the neighborhood is a priority of
this program. Each one- or two-story home includes:
- 3 bedrooms
- 1-1/2 or 2 baths
- full basement
- garage
- landscaping
- washer, dryer, dishwasher, refrigerator, stove
- ± 1,200 s.f.
Eligible families must have incomes between 65 – 80% of the
median income for St. Joseph County. Applicants will need to qualify
for a mortgage through one of the program’s participating
lenders, and are expected to save $1,500 by time of closing. Prospective
homebuyers must also successfully complete a first-time homebuyer
education course.
The City is actively seeking applicants for next year’s
program. For more information, contact Andrew West, Homebuyer Program
Coordinator, at 258-1668.
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