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Indiana Housing & Community Development Homebuyer Programs for 1st-time and repeat homebuyers!
Indiana Housing & Community Development Homebuyer Down Payment Assistance Products:
First Step Purchase
5% Down Payment Assistance of the purchase price.
- 30 yr Fixed Rate
- FHA, FNMA, FMHLC
- Non-forgivable: payoff due at loan maturity, sell or refinance.
- First-time homebuyer, military status, or purchase of QCT*
Step Down Purchase
This is a rate-only product.
- 30 yr Fixed Rate
- FHA, FNMA, FMHLC
- First-time homebuyer, military status, or purchase of QCT*
Next Home Purchase
2.5% or 3.5% Down Payment Assistance of the purchase price.
- 30 yr Fixed Rate
- FHA, FNMA, FMHLC
- Non-forgivable: payoff due at loan maturity, sell or refinance.
Next Step Purchase Refinance
One time refinance opportunity for IHCDA First Place or First Step existing liens.
- 30 yr Fixed Rate
- FHA, FNMA, FMHLC
- First-time homebuyer, military status, or purchase of QCT*
*QCT= Qualified Census Tract as determined by HUD. s
Income and Acquisition limits apply to all Down Payment Assistance products. All Down Payment Assistance products are subject to non-refundable $250.00 reservation fee.
Indiana Housing & Community Development Requirements
$250 Reservation Fee for all IHCDA products.
Only 1003 applicants may take title at closing.
All homes must remain owner-occupied primary residence.
IHCDA uses 1003 applicant qualifying income, not household income.
Non-occupant co-borrowers and/or co-signers are allowed.
*restrictions apply
