These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.

Indiana

Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

Indiana Housing and Community Development Authority (IHCDA) First Place Program

• What It Offers: Provides down payment assistance up to 6% of the home’s purchase price.
• Who Qualifies: First-time homebuyers and veterans with a minimum credit score of 640.
• Income Limits: Varies by county and household size.
• Repayment: Forgivable after a set period if the buyer remains in the home.

Lake County

• City of Gary – Hoosier Homes Program
  • Assistance: Offers up to 5% in down payment and closing cost assistance.
  • Eligibility: Available to homebuyers purchasing in Gary with income not exceeding 140% of Lake County's median income.

Vigo County

• Home Down Payment Assistance Program
  • Assistance: Provides assistance to eligible homebuyers in Clay, Parke, Sullivan, Vermillion, and Vigo Counties.
  • Eligibility: Applicants must meet specific income requirements and other criteria.

Marion County

• Indianapolis Neighborhood Housing Partnership (INHP)
  • Assistance: Offers down payment assistance funds to qualified homebuyers using their loan options.
  • Eligibility: Applicants must meet income requirements and complete homebuyer education.

Allen County

• Fort Wayne Housing Authority – Hoosier Homes Program
  • Assistance: Provides up to 5% in down payment and closing cost assistance.
  • Eligibility: Available to both first-time and repeat homebuyers meeting program criteria.

Note: Program availability, eligibility criteria, and assistance amounts can change. It's recommended to contact the respective program administrators directly to obtain the most current information and application procedures

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.