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Community Home Loan
Our newest affordable home loan offering can take buying a home from dream to a reality. Whether it’s your first house, a place for an expanding family, or your retirement home, German American Bank will help you get there. If your income is less than 80% of the median household income in your area, our Community Home Loan Program is designed for you!
Key benefits of our program(1):
Community Home Loan Program Mortgage
As low as 3% down payment required
No private mortgage insurance
Fixed monthly mortgage payments
Single family, 1-unit primary residence homes only
Loans up to $175,000
Income restrictions apply
A $2,500 grant to assist with down payment and/or closing costs
A $2,500 forgivable home equity line of credit to assist with home improvements, down payment assistance and/or closing costs upon meeting certain requirements
(1) Subject to credit and underwriting approval. Refinancings do not qualify. Your mortgage payment may stay the same; however, if you escrow taxes and insurance, those amounts may change annually.
Available in the German American Bank markets in Indiana and Kentucky.