Rent-Focused Home Loans at 4.99% Interest Rate
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), 4.99% interest rate (5.22% APR), 580 credit score, $1,072.42 monthly principal, and interest payment for 360 months. Income, eligibility, and other restrictions may apply. Rates and availability subject to change without notice before program expires 12/31/24.
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).
