Rent-Focused Home Loans
Update: The promotional 4.99% interest rate officially ended Nov. 18, 2024. However, our Rent-Focused home loan program is still available. Talk to an INHP mortgage loan originator about our latest rates and terms.
From now until the end of 2024, INHP is offering an exclusive interest rate of 4.99%* for rent-focused mortgage lending. This program is designed to help renters with two years of positive rental-payment history become homeowners, despite other credit or financial barriers.
If you’ve proven you can make rental payments on time, why not make on-time mortgage payments instead and build equity in a home of your own?
This eligibility criteria are first-of-its-kind for Marion County residents. To qualify, INHP’s lending team will assess your rental history and consider the extent of other financial barriers to allow for a better understanding of your situation and determine if homeownership may be a sustainable option.
ELIGIBILITY:
- 24 consecutive months of on-time rental payments
- Minimum credit score of 580
- Household income below 120% of Area Median Income (AMI)
- Zero money down
- $500 minimum closing cost contribution
- Home must be purchased in Marion County and be the buyer’s primary residence.
To learn more about this special opportunity, get connected to a member of the INHP lending team by filling out our online registration form.
*Estimated loan terms are based on a $200,000 Purchase Price, $200,000 Loan Amount (or 0% down), 6.686% interest rate (6.858% APR), 580 credit score, $1,288.70 monthly principal, and interest payment for 360 months. Income, eligibility, and other restrictions may apply. Rates and availability subject to change without notice.
Must earn a low or moderate income, defined by U.S. Department of Housing and Urban Development (HUD) (i.e. a household of three earning up to $111,150.00).
