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Financing Several participating banks are offering 30-year, fixed rate mortgages with no private mortgage insurance and below market interest rates. The Project Team is working with each lender to get their interest rates as low as possible for Fall Creek Place buyers, with our target being up to one percent below current rates. You read that correctly, 30-year fixed rate loans with below market interest rates and no PMI. You will not find a better mortgage product in any other neighborhood in Indianapolis. Ask the builders how to get in touch with the loan officers from these banks. The City of Indianapolis has set aside down payment assistance grant money for qualified low/moderate income buyers. If you earn at or below 80% of the City’s median income ($36,450 is the threshold for a one-person household and $41,700 is the threshold for a two-person household in 2007), you will qualify for a $20,000 downpayment grant. To learn more about financing options and to get on the road to living in Fall Creek Place, contact the participating lenders below.
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