Greater Lafayette doesn’t fall short when it comes to lending a helping hand. Aside from the community members, many local entities have made it their mission to empower and support the individuals they serve. Are you looking for opportunities to volunteer and serve your community? Or maybe you’re interested in making a donation of some sort?  Check out TRC’s list of just some of the many organizations and how they’re making an impact on our community one person at a time. 

Food Finders Food Bank

www.food-finders.org

Headquartered in Lafayette, Food Finders Food Bank was founded in 1981 with the purpose of collaborating with other organizations to provide food for people in need and to educate, advocate, and address food insecurity around North Central Indiana. Every year, Food Finders distributes more than nine million pounds of food to various non-profits throughout 16 Indiana counties. 

One of the many programs Food Finders offers is its Mobile Food Pantry program. A mobile food pantry truck travels around the region and provides 40-50 pounds of food for each family, up to 140 families. 

For more information about Food Finders and the programs they offer, visit their website listed above.

Bauer Family Resources

https://bauerfamilyresources.org

Founded in 1929, Bauer Family Resources is a non-profit that serves children and their families right here in the Greater Lafayette area. Some of those services include youth development, school-based youth programs, case management, Head Start and Early Head Start, and Safe Sleep.

Bauer’s mission statement is “Creating brighter tomorrows by strengthening children and families today.” As a non-profit, Bauer is governed by a volunteer Board of Directors responsible for setting the strategic direction of the agency and being fiduciaries of the money entrusted to further Bauer’s mission. 

United Way of Greater Lafayette

www.uwlafayette.org

The United Way’s mission includes fighting for health, education, and financial stability of every person in every community, including right here in Greater Lafayette. The non-profit stands by its “Cradle to Career” commitment, equipping people with the tools and resources they need to live their best possible life from childhood throughout adulthood. Some of these programs include Kindergarten Countdown Camp, Read To Succeed, and VITA (Volunteer Income Tax Assistance). 

YWCA of Greater Lafayette

www.ywcagreaterlafayette.org

The YWCA of Greater Lafayette’s mission includes eliminating racism and empowering women. The YWCA offers several programs such as the Women’s Cancer Program, which helps increase access to health screenings and preventative healthcare among minority women. The non-profit also offers recreational programming aimed at building confidence in school-aged girls. 

And for those looking for new employment, the YWCA recently opened the Dress for Success campus here in Lafayette. Each client will receive a personal consultation and interview proper attire for their first interview. Once the client is employed, she will receive up to five additional work wear ensembles, accessories, and grooming products.

The Wabash Center

https://www.wabashcenter.com

Founded in 1953, the Wabash Center is a comprehensive service provider for those with disabilities or special needs, helping in providing a quality of life for those they serve and their families. The non-profit offer dozens of program and resources for all age groups. Some of those programs include supported living, youth services, and community stewardship. 

The Wabash Center also offers employment to people with disabilities who prefer an environment where assistance is available or where they can work alongside peers. Some opportunities available include light assembly and kit building which is supplied to companies such as Wabash National, CAT Logistics, Simple Life Cycle, and others.

LTHC (formerly Lafayette Transitional Housing Center) Homeless Services

www.lthc.net

Since 1989, LTHC has served as a starting point for anybody who is experiencing homelessness or a housing crisis here in Greater Lafayette. The agency offers housing options and resources to help its guests get back on their feet. The non-profit offers a plethora of different programs and aims at educating and teaching the public about how to help put an end to homelessness once and for all. 

Some of the programs offered include: Homeless Services Program, Day Resource Center, Rapid Re-Housing, Permanent Supportive Housing, Services for Veteran Families, and the Engagement Center. 

Lafayette Urban Ministry

www.lumserve.org

The Lafayette Urban Ministry is an organization of more than 45 churches that serve as a social safety net right here in Greater Lafayette. LUM has been dedicated to serving low-income residents, taking an active role in working to change social injustices and improve the quality of life for low-income Hoosiers. LUM offers a variety of services for children, families, and others in the community including the Good Samaritan program, the After School Program, the LUM Protein Food Pantry, and several community events including a 5K and camp.

Junior Achievement of Greater Lafayette

https://www.juniorachievement.org/web/junior-achievement-of-northern-indiana/home

Junior Achievement has helped empower more than 1,500 young people here in Greater Lafayette, setting them up for future economic success by enhancing the relevancy of education. JA offers several education programs for young people in elementary school all the way through high school, helping prepare them for real world experiences including generating wealth and managing it, how to create their jobs and make their communities more robust, and how to apply entrepreneurial thinking to the workplace.  

Tippecanoe Arts Federation

www.tippecanoearts.org

The Tippecanoe Arts Federation (better known as TAF), is an umbrella organization and arts council for 14 Indiana counties, including Tippecanoe County. The non-profit provides educational opportunities in the visual, performing, and literary arts, outreach programs for underserved communities and youth, and operational expenses to help local art organizations function. TAF plays host to many community events and art groups and serves as the Region 4 Arts Partner of the Indiana Arts Commission, providing grants, information and referral services, and technical assistance to individuals and organizations. 

*For a list of more entities in and around Greater Lafayette, visit https://business.greaterlafayettecommerce.com/list/ql/non-profit-and-community-686

Are you looking for a gym that’s open around the clock? Maybe you’re looking to hire a personal trainer to help you accomplish your health and wellness goals? Or maybe you’re just looking for some engaging group fitness classes to participate in. If you’ve found yourself saying yes to any of those, Iron Phoenix may be exactly what you’re looking for!

We chat with owner and founder Sandy Morrow to learn more about Iron Phoenix and what they have to offer!

As Greater Lafayette’s newest gym, tell us about Iron Phoenix and what you have to offer to the Greater Lafayette community
Iron Phoenix is so proud to be a part of the Greater Lafayette community. We are committed to improving and enhancing the lives of the families in our community by integrating innovative fitness programs, nutrition education, inspiration, motivation, balance, and accountability.

We strive to consistently create a memorable experience for each member of your family while empowering and mentoring you in becoming optimal versions of yourselves through mind, body, and soul. We began with a big dream and a team of fitness professionals with huge hearts and a passionate desire to help others and here we are making it happen, making an impact one person at a time.

What makes Iron Phoenix different from other gyms in Greater Lafayette?
Relationships are key. The connection our entire team makes with each member of our community is sincere, real, meaningful, and extremely important to us. We share inspiration, motivation, and accountability to HELP THEM move forward toward with their goals TOGETHER. You’ll never go wrong when you provide quality content that motivates, inspires, educates, and entertains. Our community will always feel welcomed when they step foot inside our facility… they will always feel at home and empowered when in our company. We promise that you will never be just another membership to us, and we will continue to remind you of your importance to us.

What kind of services/classes does Iron Phoenix have to offer?
We proudly offer something for the entire family at Iron Phoenix. We have eight nationally certified personal trainers ready to assist you one on one with your goals regardless of where you are currently in your fitness journey, as well as nutritionists there to assist with the nutrition piece of the puzzle. We offer many youth athletic programs from cheerleading with a Purdue student to wrestling with a local high school coach. We want to make sure your entire family finds something they enjoy at Iron Phoenix!

For someone who is working on getting their health/wellness in check, how do you keep them on track?
The cool thing is that evolution of self is never-ending if you’d like it to be. We set goals together, we track goals together and we reassess goals together but an important thing we make sure to do is CELEBRATE goals together. You are never alone in your journey when you have the Iron Phoenix community behind you. Our members become family to us and to one another. Knowing that unconditional support is never wavering, you feel empowered to continue doing your best each day.

For someone who may be on the fence about giving Iron Phoenix a try, how would you convince them to come in?
We understand joining a new gym can be intimidating but we are here to walk alongside you from day one through it all. We would love to welcome you into our facility with a tour of our superhero themed gym while discussing how we can help you reach your true potential. Your first class is complimentary as is your first visit utilizing our open gym offerings. We have a 10,000 sq ft facility with space to move around in your workout without feeling as if there are others on top of you. Call us any time to stop by and see if Iron Phoenix is for you!

What is your definition of wellness?
Wellness to us is incorporating a holistic approach to your health and wellbeing through fitness, nutrition, and mindfulness into your daily life. There is much more to a healthy lifestyle than what you do inside the gym. We want to be there to support you through each variable of this journey.

Don’t get us wrong, Greater Lafayette has plenty of fun things to do around town, but if you’re itching for a change of scenery, consider taking a quick trip down to Indianapolis! Just an hour’s drive south, the Circle City is home to many museums, restaurants, parks, and so much more!

Let us help you plan your trip and check out some of our recommendations and suggestions! 

Attractions

Children’s Museum of Indianapolis

3000 North Meridian Street, Indianapolis

https://www.childrensmuseum.org

A staple in the Indianapolis community for nearly 100 years, The Children’s Museum of Indianapolis is sure to create a fun and educational experience for children of all ages! Kids can actively engage in the many learning experiences that incorporate arts, sciences, and humanities. A newer addition to the museum is the Sports Legend Experience, which includes 12 outdoor and three indoor sports exhibits aimed at boosting physical fitness.

Before you go, know that capacity is limited to 50 percent, so it’s greatly encouraged that you purchase tickets ahead of time, which can be done online. 

Indianapolis Zoo

1200 West Washington Street, Indianapolis

www.indianapoliszoo.com

Open year round, the Indianapolis Zoo is home to more than 3,800 animals of more than 320 species and subspecies, which will surely lead to a day full of excitement. Encompassed within the 64-acre campus, guests can interact with animals and plants through the zoo’s biomes. These biomes include five regions – Oceans, Forests, Deserts, Encounters, and Plains.

White River Gardens is also located on the zoo’s campus, and includes a 5,000 square foot conservatory, combining the best of gardening ideas, plant information, and inspirational design to serve the needs of all visitors.

Admission to the zoo includes full access to all the exhibits at both the zoo and White River Gardens. Some of the everyday activities include keeper chats, presentations, and daily demonstrations. Before you visit, be sure to visit their website and schedule a reservation due to COVID-19 restrictions. 

Soldiers & Sailors Monument

1 Monument Circle, Indianapolis

https://www.in.gov/iwm/2335.htm

Did you know that Indianapolis is only second to Washington, D.C. when it comes to having the most monuments honoring veterans? 

Since its dedication in 1902, the Soldiers & Sailors Monument has been Indiana’s official memorial to veterans that served in the Revolutionary War, the War of 1812, the Mexican War, the Civil War, the Frontier War, and the Spanish-American War. The monument sits in the very center of Indianapolis, standing at 284 feet tall. The gift shop and observatory are currently closed, but the monument and all its beauty and history can still be cherished and adored from Monument Circle.  

Fort Benjamin Harrison State Park

6000 North Post Road, Indianapolis

https://www.in.gov/dnr/state-parks/parks-lakes/fort-harrison-state-park/

Is nature more of your forte?

Once a U.S. Army Post, Fort Benjamin Harrison officially closed in 1991, and the post was then redeveloped and includes the current Fort Harrison State Park. The park is home to more than 1,700 acres featuring walking and biking trails, picnic sites, fishing access to Fall Creek, a sledding hill, and two national historic districts. And if you’re looking to get a round of golf in, Fort Ben offers an 18-hole golf course and driving range.

Indianapolis Motor Speedway Museum

4750 West 16th Street, Indianapolis

https://www.indianapolismotorspeedway.com/at-the-track/museum

Calling all IndyCar and NASCAR fans out there! 

Located in the infield of the world-famous Indianapolis Motor Speedway, the 37,000 square foot IMS Museum is home to a plethora of automotive and motor racing vehicles and artifacts. Up to 75 cars are on display at any given time, including more than 30 Indianapolis 500 winning cars and various other cars. Other items on display include trophies, plaques, helmets, gloves, and driver’s suits. 

The museum is open every day of the year besides Thanksgiving and Christmas, and offers “behind the scenes” tours of the track on days where weather permits.

Indianapolis Museum of Art/Newfields

4000 Michigan Road, Indianapolis

https://discovernewfields.org

Sitting within the 150-acre Newfields campus just north of downtown Indianapolis, The Indianapolis Museum of Art is the ninth oldest art museum in the United States. The permanent collection is comprised of more than 50,000 pieces of art including African, American, Asian, and European works of art. Also, within the Newfields campus is The Gardens, the 100-acre Virginia B. Fairbanks Art & Nature Park, and 26-acre Lilly House.  

Indiana State Museum

650 West Washington Street, Indianapolis

www.indianamuseum.org

Located along the Canal Walk in downtown Indianapolis, the Indiana State Museum gives visitors an opportunity to engage with Indiana’s past and connect to its present. The building itself is also a work of art, constructed of materials found right here in Indiana and featuring each of Indiana’s 92 counties. Spanning three floors, the museum offers a year-round calendar of exhibits and Indiana art, science, and culture, piquing the interest of all ages.

Indianapolis Canal Walk

801 West Washington Street, Indianapolis

https://www.visitindy.com/indianapolis-canal-walk

The Indianapolis Canal Walk is part of the Indiana Central Canal, which was dug back in the 1800s to help facilitate commerce. Today, the canal isn’t used for commerce, rather leisure. The walk stretches through White River State Park to 11^th Street, serving the downtown Indianapolis community and visitors as a waterside promenade for walkers, runners, bikers, and sightseers. The Indiana State Museum also offers pedalboats for rental if you’d like to get on the water. 

Garfield Park Conservatory & Sunken Garden 

2505 Conservatory Drive, Indianapolis

https://www.garfieldgardensconservatory.org

As part of the Indianapolis Parks and Recreation system, Garfield Park Conservatory is 10,000 square feet and home to hundreds of plants from around the world. The conservatory also offers educational displays and plays host to many events throughout the year. 

The Sunken Garden includes three acres of European classical formal gardens. The garden also features seasonal fountains, formal flower displays, concrete urns, and bowls.

Rhythm! Discovery Center

110 West Washington Street, Suite A, Indianapolis

www.rhythmdiscoverycenter.org

Rhythm! Discovery Center hails as the world’s only interactive drum and percussion museum. The center features unique, interactive exhibits highlighting a rich collection of historic artifacts and hands-on percussion instruments. Some of the exhibits include feature instruments from leading percussionists and promote the understanding of percussion and its role in world culture. 

The center also offers an array of educational programming designed to supplement its interactive exhibits, providing a place for everyone to explore the world of percussion firsthand. 

Restaurants/Places To Eat

Indianapolis City Market

222 East Market Street, Indianapolis

www.indycm.com

Founded 200 years ago, this historic city market is home to an abundance of food vendors, bound to satisfy anybody and everybody.

The Old Spaghetti Factory

210 South Meridian Street, Indianapolis

918 South Rangeline Road, Carmel

https://www.osf.com/location/indianapolis-in/

Family owned and operated, The Old Spaghetti Factory has been serving delicious, affordable three-course dishes since 1969. 

Mug N’ Bun

5211 West 10^th Street, Indianapolis

http://mug-n-bun.com

For nearly 50 years, Mug N Bun Drive-in has been serving huge tenderloins, hand-dipped onion rings, and secret coney sauce, offering something for everyone! Wash it all down with their signature homemade root beer or one of our delicious milkshakes.

Punch Burger

137 East Ohio Street, Indianapolis

550 East 96^th Street, Indianapolis (Open 11AM-2PM M-F, Closed Saturday and Sunday)

http://www.punchburger.com/#aboutus

If you’re a big fan of burgers, grilled cheese, or both, Punch Burger is calling your name! The restaurant also made Yelp’s list of the Top 25 Highest Rated Restaurants In Indiana.

The Cake Bake Shop

6515 Carrollton Avenue, Indianapolis

799 Hanover Place, Upper Deck, Hanover Place Suite 260, Carmel

https://thecakebakeshop.com

If you’ve got a sweet tooth, be sure to add The Cake Bake Shop to your list! With two Indianapolis locations, the shop offers a beautiful atmosphere and plenty of delicious sweet treats.

Jockamo’s Upper Crust Pizza

Historic Irvington – 5646 East Washington Street, Indianapolis

Oldtown Greenwood – 401 Market Plaza, Indianapolis

Lawrence/Fort Benjamin Harrison – 9165 Otis Avenue, Indianapolis

http://www.jockamopizza.com

Who doesn’t love a good pizza?! If you enjoy a good pizza, Jockamo’s has plenty varieties on their menu. And if you’re looking for something other than pizza, they also offer plenty of alternative dishes.

Shapiro’s Deli

808 South Meridian Street, Indianapolis

www.shapiros.com

Owned and family-operated by one family for more than 115 years, Shapiro’s Deli offers classics such as their piled high sandwiches with corned beef, pastrami and brisket. Homemade macaroni and cheese and matzo ball soup are also among some of the many dishes. And if you’re looking for something sweet, you’ll want to try Shapiro’s cheesecakes!

Mimi Blue Meatballs

870 Massachusetts Avenue, Indianapolis

8702 Keystone Crossing, Indianapolis

12505 Old Meridian Street, Carmel

https://mimibluerestaurants.com/?fbclid=IwAR1c_DltSZIs2NhjLbzYvUoTgrbUrJZTzR3bxB2mhu9v6PKQvlcQch7wjGI

The name gives it all away! If you’re a huge fan of meatballs, Mim Blue is calling your name!

Need a moving truck? We’ve got it!

Moving to a new home is exciting, but the actual moving process is a huge undertaking. Unless you’re moving across the street or don’t have much stuff, you’re likely going to need a moving truck.

On the other hand, maybe you’re not moving, but you’ve got a load of junk that you need to drop off at the dump, but you don’t want to make a dozen trips back and forth in your own vehicle. 

Here at TRC, we care about our clients and want to help you out! So, we offer a box truck of our own that our clients can reserve FOR FREE! The truck is 23 feet long, 14 feet tall, and includes a lift gate. 

The only things that we ask of is:

• A $100 REFUNDABLE deposit
• Provide proof of a Driver’s License and proof of insurance 
• In-state use, within 100 miles of West Lafayette
• Return the truck with the same amount of gas it had when you picked it up
• And please, return the truck in the same condition you picked it up in. 🙂 That includes cleaning up any messes and disposing of any trash

To make a reservation, visit https://russellteam.com/resources/

Miracles Sports Performance Center speed/strength training for youth athletes and adult personal trainings through progressive weight training and Muscle Activation Techniques. TRC spoke with Will Mieding, Director of Sports Performance for the center.

What does Miracles Sports Performance Center have to offer to the Greater Lafayette community?

My mission is to train kids the right way. Overtraining or training done just because it’s hard to do has led to many overuse injuries and only damages these young athletes. So, we do progressive speed mechanics and strength training fit for each individual to ensure the best effects are achieved while minimizing negative effects.

Do you have a target audience or do you serve anyone and everyone?

I focus on young athletes aged 6-18 years old wanting to improve their speed and strength for their sport.  So, it’s mostly ground based speed sports like soccer, football, baseball, softball, tennis, and basketball players with big goals. 

What kind of services/classes do you have to offer?

What I do is progressive speed mechanics so they learn how to move at high speeds by doing it perfectly. I also incorporate resistance training. These can be done in our groups or one on one. 

I also have incorporated Muscle Activation Techniques, which helps young athletes and adults heal from their injuries much faster than other methods. It’s especially a game changer for young athletes!

How do you keep your clients on track when it comes to achieving their goals?

Good question. On each of their workout sheets I have them write their current goal and two things they will do to help them achieve that goal. If these kids write down and see their goal each day their chances of achieving it goes up. I also keep in touch with their parents to ensure all is going well and my training is translating to their sport and in their games. 

For someone who may be on the fence about giving your facility a try, how would you convince them to come in?

I offer a free trial session. With this they can meet with me, go over their goals, and even try out a free demo session of what I do and how I progress and train my athletes. If they like it, great. If not, I’ll do what I can to make it better for them.  

What is your definition of wellness?

Another good question. It’s all encompassing. It’s feeling well in all capacities. It’s having a body that feels good and is able to do the activities you enjoy. It’s also how you feel about yourself and having a positive aspect on your life and where it’s going. So, it’s more than just illness free, to me its feeling great all over – inside and out. 

What are your plans for the future?

Building my brand and what I do into something even larger. I have big plans and want to bring awareness to more young athletes with pain and mobility issues and share what I do. It’s going to be exciting when it all comes to fruition.

The main thing is that I care deeply about ensuring the best training for these kids and anyone with pain and mobility issues. I know I can make them faster, stronger, and prevent injuries with the right training!

If you’ve been following the news lately, student loan debt is a popular topic of discussion. Millions of Americans face the burdens of carrying tens to hundreds of thousands of dollars in student loan debt and for some, it has put a halt on the path to homeownership.

According to a 2017 report from the National Association of Realtors, 83 percent of non-homeowners polled in a survey say student loan debt is delaying them from buying a home. The report included that the median amount of student loan debt is $41,200 and when you compare apples to apples, that equates to more than a 20 percent down payment on a $200,000 home. 

If you’re among those paying off student loans, you may be wondering if buying a home is even possible. The short answer is yes, depending on factors such as your personal financial situation, whether you have a reliable income stream, and the amount of debt that you owe. 

“Buying a home when you have student loan debt isn’t impossible, you just need to understand that depending on your type of financing, the underwriting guidelines vary in regard to how this debit is evaluated and calculated,” said Jennifer Pack, a Loan Officer with Centier Bank.

Keep in mind that a mortgage payment isn’t the only thing that comes along with a new home, so the last thing you want to do is back yourself into a corner. If you’re paying off student loans and considering home ownership, below are some tips to keep in mind. 

Work on improving your credit score, including paying your student loans on time

Your credit score is an important tool used to gauge your financial health, allowing lenders to determine whether you’re a risky borrower. Even if you owe thousands of dollars in student loans, you can still maintain a great credit score, and keeping your credit health in check could greatly enhance your chances of being approved for a home loan. Keep these tips in mind while building your credit score.

• Pay your bills on time: It goes without saying that making regular payments on time (even if it’s a minimum payment) and avoiding collections will serve you well. “Making payments on time, every time, is important to your credit health. If you don’t have a lot of credit history, student loans serve as an opportunity to build up credit,” Pack said. “It proves that you are a responsible borrower and that you are able to repay a loan.” Even though federal student loans are in forbearance until later this year, it may behoove you to make payments anyways if you’re able to. “Delinquency of student loan debt can adversely affect your overall credit rating and is hard to recover from,” said Pack. “Make sure you know when your deferment date ends and use auto payment and technology such as the online payment portal, to insure you have set up scheduled payments. Don’t rely simply on notice from the student loan lenders via mail, be proactive and create online access to all student loan accounts to ensure you are setting yourself up for success!”
• Use a mix of credit: If you’re still establishing a credit history, consider the different types of credit that make up your credit score. This includes revolving credit (such as credit cards) and installment loans (student loans, car payment, etc.). This provides insight as to how you handle your variety of debts. Just be sure to pay your credit cards off in full each month to avoid costly interest fees.
• Keep your credit utilization low: Just because a credit card company offers you a $10,000 line of credit doesn’t mean you should go on a shopping spree and max your card out, although nobody is stopping you. The general rule of thumb when it comes to lines of credit is to keep your credit utilization under 30 percent, though keeping it as low as possible or at zero is ideal.
• Don’t close old accounts: Maybe you recently paid off a credit card that’s been hanging over your head for quite some time. Congrats! But don’t close out that account. One of the factors that make up your credit score include the age of your accounts, and when you close out an account that you’ve had for several years, that takes that account out of the mix and can ultimately affect your credit score.

Work on bringing down your debt-to-income (DTI) ratio, including paying down your student loans

Unfamiliar with the term “debt-to-income ratio”? Essentially, your debt-to-income ratio is all of your minimum monthly debts divided by your gross monthly income. For example, if your gross monthly income is $5,000 and the minimum amount due on your monthly debts is $1,500, your debt-to-income ratio is 30 percent. If someone else is applying for a loan with you, be sure to include their income and debts as well.

In some cases, particular lenders will approve you for a loan with a debt-to-income ratio as high as 50 percent, but that’s not common. It’s usually recommended that you stay at or below 36 percent. 

Some debts that SHOULD BE included in your DTI include:

• Student loan payments
• Rent payment
• Car payment
• Credit cards

Debts that SHOULD NOT BE included in your DTI include:

• Utilities
• Groceries
• Retirement contributions

When it comes to student loans, you need to consider how that particular debt will factor into your DTI. For example, if your DTI is substantially higher due to a hefty student loan payment, you may want to consider paying down some of that debt before taking on a home loan.

You may also want to check with your student loan lender to see if they offer an income-based repayment plan, where your student loan payment is calculated based off of your income. This could bring down your monthly payment substantially.

Apply for pre-approval and determine your budget

If you’ve done a deep dive into your finances and determined that your financial situation is stable and steady enough for a new home, the next step is to obtain a pre-approval letter from a lender. A pre-approval letter indicates that you are in good standing financially and estimates a monthly mortgage payment that best suits your budget.

When going through the pre-approval process, a lender will ask for documentation outlining your finances, including any student loan debt. Once you have this document, you’ll want to have a budget in mind that you know you can comfortably afford. As mentioned above, don’t forget that owning a home consists of more than just a mortgage payment.

Are student loans eating into your savings? Look into down payment assistance programs

When paying off student loans, coming up with several thousands of dollars for a down payment can be a stretch. The state of Indiana offers several down payment assistance programs based on particular needs. Those programs and what they have to offer can be found at https://www.in.gov/ihcda/4058.htm

Keep in mind that if you do put down less than 20 percent, some lenders will require you to carry Private Mortgage Insurance (PMI). PMI protects the lender if you default on your home loan. PMI premiums usually range from 0.5 to 1 percent of your annual mortgage payment and is included in your monthly mortgage payment. Once you’ve paid off 20 percent of your home, you’ll likely be allowed to drop PMI coverage. 

For a more in depth breakdown, check out this infographic from MGIC Investment Corporation.