City of Mishawaka Homeownership Down Payment Assistance (HSS-1)

What is City of Mishawaka Homeownership Down Payment Assistance (HSS-1)?

City of Mishawaka Homeownership Down Payment Assistance (HSS-1) is a deferred second loan for homebuyers in Mishawaka, Indiana, administered by City of Mishawaka Planning and Community Development Department.

• The City of Mishawaka Department of Planning and Community Development administers a Homeownership Assistance program (Goal HSS-1) as part of the St. Joseph County Housing Consortium Consolidated Plan, promoting homeownership for low- and moderate-income persons through down payment assistance, leveraging HOME and CDBG funds.
• Down payment assistance for low- and moderate-income homebuyers within Mishawaka city limits. Specific dollar amounts per household not published; contact Community Development.
• Funding comes from HOME Investment Partnerships Program and CDBG; St. Joseph County Housing Consortium.

Do you have to pay it back?

City of Mishawaka Homeownership Down Payment Assistance (HSS-1) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Mishawaka Homeownership Down Payment Assistance (HSS-1) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

City of Mishawaka Homeownership Down Payment Assistance (HSS-1) limits household income to 80% of the area median income, which varies by county and household size.

• Low- and moderate-income per HOME/CDBG requirements (at or below 80% AMI).
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of Mishawaka Homeownership Down Payment Assistance (HSS-1) can be used for single_family.

Where does it apply?

City of Mishawaka Homeownership Down Payment Assistance (HSS-1) serves buyers purchasing in Mishawaka, Indiana.

How do you apply?

Applications for City of Mishawaka Homeownership Down Payment Assistance (HSS-1) go through City of Mishawaka Planning and Community Development Department, which publishes the current terms and the application steps on its own site.

1. 1

   Contact City of Mishawaka Planning and Community Development Department to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.