CMG Community One Grant — Key Highlights:
✅ Forgivable grant up to 2% of purchase price (max $6,000)
✅ No first-time homebuyer requirement
✅ Income based on loan application — not household income
✅ Buyers must be at or below 80% AMI for the county
✅ 620 minimum credit score
💰 The Grant
CMG will fund a grant equal to 2% of the purchase price (up to $6,000) — real money, funded directly by CMG — that you can apply toward:
Down payment
Closing costs
Rate buydown (discount points)
🏠 How It Works Toward the Down Payment
Total down payment required 3%
CMG grant covers up to 2% (max $6,000)
Buyer brings from own savings Just 1%
You get into a home with as little as 1% out of pocket.
For More information, contact:
Kathy Bowman
Senior Loan Officer
kbowman@cmghomeloans.com
(812) 322-2157
3939 S. Walnut Street, Bloomington, IN 47401