Down Payment Assistance

It's easy to bank with Merchants Bank™

Down Payment Assistance

It's easy to bank with Merchants Bank™

First Place Program

First Place is an affordable low down payment mortgage product designed for creditworthy low- to moderate-income First-time Homebuyers, with expanded eligibility when financing homes in low-income communities.*

First-time homebuyer benefits

  • Up to 6% down payment and closing cost assistance
  • First-time homebuyer is defined as no homeownership in the last 3 years
  • Free homeownership education and advising options empower borrowers to become successful homeowners
  • Low Lender closing costs
  • Minimum qualifying credit score 640 with Debt-to-Income ratio less than 45%
  • Local processing and underwriting
  • Borrower income limits apply

*All applications subject to credit approval.

Equal Housing Lender Logo          NMLS #554119

Contact Us

Have questions about Merchants' Down Payment Assistance? Contact us today!

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