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Horizon Bank Allocates $1 Million Toward Specialized Loans Promoting Home Ownership and Revitalization


Horizon Bank has allocated $1 million to fund home ownership and home improvement loans in low- to – moderate income neighborhoods throughout Horizon’s market area in Indiana and Michigan. The loans are designed to assist borrowers in three categories of need: obtaining a home for the first time, making repairs to a home they already own, and re-establishing good credit while building a savings fund that can be used toward a mortgage down payment.

James D. Neff, Executive Vice President, Mortgage Banking at Horizon Bank says, “We’ve set aside funding specifically for these programs because we felt there was a need for loan options that might not fit with traditional products. These loans offer more flexible terms to allow customers to rebuild their credit history, buy their first home or make necessary improvements to their existing home.”

Under the Home Ownership Revitalization umbrella, Horizon is offering three lending options to accommodate customers’ diverse needs:

  • Home Improvement Program — Offered exclusively through Horizon Bank, this program supports homeowners in making necessary improvements, to enhance the livability or energy efficiency of their homes. This can include replacement of furnaces, windows, and roofs, or other important repairs. For this program, Horizon has relaxed underwriting guidelines to allow more people to qualify.
  • Home Ownership Program — This program helps first-time home buyers purchase a home by using federal grant funds of up to $10,000 toward a down payment.
  • Fresh Start Loans — These secured loans are offered specifically for applicants who have experienced credit issues, and as a result, do not qualify for traditional loan programs. Under this program, the borrower has the opportunity to re-establish their credit history, while at the same time creating a savings fund that can later be used toward a down payment on a home.

The Home Ownership and Revitalization lending program is an extension of Horizon Bank’s commitment to serving the local communities in its market, throughout Indiana and Michigan.

As Yolanda Davis, Horizon’s Community Reinvestment Officer notes, “We are working to make a positive impact on harder-hit neighborhoods. We’re actively reaching out to local organizations, to see how we can help. This has resulted in credit counseling sessions, financial seminars for first-time homebuyers, and partnerships with groups like the Urban League, Harbor Habitat, local churches, and many others."

Combined together, these programs are aimed at helping individuals achieve their financial goals, while also enhancing the stability of the communities.

To learn more about these or any of Horizon Bank’s diverse home mortgage and lending opportunities, call (219) 877-0451 or email This email address is being protected from spambots. You need JavaScript enabled to view it.. To find details on all of the bank’s community outreach programs, visit www.horizonbank.com

About Horizon Bank
Horizon Bancorp is a locally owned, independent, commercial bank holding company serving Northern and Central Indiana and Southern Michigan through its commercial banking subsidiary Horizon Bank, NA. Horizon also offers mortgage-banking services throughout the Midwest. Horizon Bancorp may be reached online www.horizonbank.com. Its common stock is traded on the NASDAQ Global Market under the symbol HBNC.


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