LEAP
It's easy to bank with Merchants Bank™
LEAP
It's easy to bank with Merchants Bank™
LEAP: Your Path to Homeownership
Are you dreaming of owning your own home but struggling to save up for a down payment? We are proud to offer Lender Equity Assistance Program (LEAP), a $7,500 grant designed to make your homeownership dreams a reality. Eligible first-time homebuyers can leap forward toward homeownership with a LEAP grant that may be used for down payment, closing costs, and homebuyer counseling expenses.
Funds are limited and are available on a first-come, first-served basis. Cannot be used in conjunction with any other down payment assistance program.
Merchants Bank will work directly with homebuyers to ensure individuals meet the LEAP program requirements. Applicants are subject to credit approval.
To qualify for a LEAP grant of $7,500 you must:
- Be a first-time homebuyer (no ownership in a principal residence during the last 3 years);
- have income at or below 80% of the local Area Median Income (AMI);
- purchase an owner-occupied single-family home, condominium, duplex, or modular unit located in Marion, Hamilton, Randolph, or Wayne County, Indiana;
- complete a required HUD-approved homebuyer counseling course prior to closing;
- use the grant for down payment, closing costs, or reimbursement of counseling expenses (no cash back); and
- effective on applications dated 1/20/2025 or later.
NMLS #554119
Are you interested in learning more about what a LEAP grant could do for you and your family?
Are you interested in learning more about what a LEAP grant could do for you and your family?
Contact Us
Have questions about LEAP and how you may qualify? Contact us today!
