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First-time Homebuyers

First time buying? Get ready to own it.

At Mercantile Bank we'll pair you with the lender that's right for you — someone who sticks by your side from start to finish.

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First time buying? Get ready to own it.

Here it is. It's time. Your first home. Don't be nervous - you've got this! And we've got financing options for you.

First, start with finding the right lender.  At Mercantile Bank we will pair you with the lender that's right for you - someone who sticks by your side from start to finish.

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Next, know your options. Mercantile offers a variety of mortgage programs aimed at providing you with the right mortgage to fit your needs. After getting to know your needs, one of our lenders will help you find the features, rate and type of mortgage that works best for you.

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Then, let us help. Obtaining a mortgage is not difficult when you have the right lender that takes time to explain the process along the way.

Finally, celebrate. You've dreamt about your first home and now it's yours. Mercantile Bank will continue to be there to make sure all your mortgage questions are answered.

First Time Home Buyer Programs

There are several mortgage programs available to First Time Home Buyers.

Low Down Payment: Many programs allow low down payments and can range from 0% of the purchase price to 5% of the purchase price. In some cases, down payment funds may also be gifted to you.

Down Payment Assistance: Mercantile Bank works with several agencies which may be able to assist with a down payment (qualifications required, see Mortgage Loan Officer for details).

Reduced Closing Fees: Depending on the mortgage program and your income, you may qualify for reduced closing fees if you are a first time home buyer.

Reduced or Waived Private Mortgage Insurance: You may qualify for reduced or waived Private Mortgage Insurance, depending on the mortgage program. Talk to a Mortgage Lender today to learn more.

Michigan First Time Home Buyer Savings Account Program: The Michigan First-Time Home Buyer Savings Program assists first-time home buyers with the purchase of their Michigan principal residence. Accounts created in connection with the First-Time Home Buyer Savings Program may be used for the payment or reimbursement of eligible costs for the purchase of a single-family residence in Michigan by a qualified beneficiary designated on the account.    

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All loans subject to approval.

Routing Transit #: 072413829
 |  SWIFT Code: MEMIUS33

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