First-Time Homebuyer Program

The First-Time Homebuyer Program makes homeownership a reality for area residents with low to moderate level incomes who are first time homebuyers. Through the City of Mishawaka’s Department of Community Development, new homes are constructed in a target neighborhood where they will serve not only to help revitalize that neighborhood, but also to increase the value of the surrounding properties. Approved applicants will receive down payment assistance in the form of a 15-year forgivable loan. Program funding is granted by the United States Department of Housing and Urban Development (HUD), under the Home Investment Partnerships (HOME) Program. 

The First-Time Homebuyer Program will serve low and moderate level income households of diverse racial, ethnic, and familial status. Eligible applicants must have incomes at or below 80% of the St. Joseph County area median to participate in the program. Program Income Limits and other useful documents can be found in the submenu located on the left side of this page.

Prospective applicants will enter the application process where personal financial information will be reviewed to consider potential loan, and program eligibility.  During the formal application process, all income and credit information is reviewed and verified with supportive documentation. Each applicant must be pre-approved for a conventional mortgage from a lender participating in the City of Mishawaka’s First-Time Homebuyer Program before construction on their home will begin.  The approved lending institutions, 1^st Source Bank and Mutual Bank, have previously formed a partnership with the City of Mishawaka. The lenders will provide applicants with individual loans that they will own and service. 

The City currently partners with local builders to build attractive, high quality houses that are designed to blend in to the neighborhood. Each home built through the program includes:

For more information on how to be a part of the First Time Homebuyer program please contact Marilyn Nelums, Program Coordinator, at (574) 258-1668.