Assistance

For those who have credit challenges, the NNN may refer you to one of the City's two programs designed to assist first time homebuyers. The Community Homebuyer's Corporation is able to provide mortgages to those individuals who may not be able to obtain traditional financing. Whereas the REWARD Program provides a series of classes and individual counseling to help individuals become credit worthy and then provides down payment assistance.

Community Homebuyer’s Corporation

With assistance from the Community Homebuyers Corporation (CHC), people can move one step closer to owning a home. The mission of Community Homebuyers Corporation is to provide affordable mortgage opportunities to low and moderate income residents of St. Joseph County. The CHC provides mortgage loans for clients not able to obtain conventional financing. By going with the CHC, the client will encounter a lower down payment, market interest rates and easier qualifying ratios. Through CHC, the 80/20 Loan is offered. The 80/20 Loan Program is a special mortgage for applicants who are eligible based on income. A percentage of the purchase price is in the form of a forgivable loan that you will not be obligated to pay back. You need to pay your first mortgage on time and attend post-purchase classes that cover home maintenance and personal finance topics.

To take advantage of the great opportunities the Community Homebuyers Corporation has to offer, stop at:

224 W. Jefferson, Suite 100
South Bend, IN 46601
(574) 235-9660

REWARD: Real Effort Wins Affordable Residential Dwellings

The REWARD program's goal is to have all of its members purchasing homes and successfully meeting all their financial responsibilities. This is accomplished through a series of classroom training sessions and personal counseling appointments. hrough a series of meetings, consisting of either 4 evening classes held once a week or an all day Saturday session, you will be presented with information and tips that will help you along the way towards reaching your goal. A minimum of two individual counseling sessions are also required.

REWARD sessions begin by focusing on developing a personal budget and savings plan. The classes then highlight understanding credit reports and learning how to handle credit in a responsible manner. Members will then be ready to discuss the various types of mortgages available on the market, and how to complete the pre-application process. Tips on home shopping, maintenance, insurance, and budgeting will be the next topics of discussion. The final REWARD sessions will prepare members for the mortgage closing process and for handling the financial obligations of homeownership.

To get enrolled in the REWARD program, call (574) 235-9660.