Indiana offers 31 down payment assistance programs to help homebuyers cover their down payment and closing costs. This includes 3 grant programs that never require repayment. Programs range from statewide options administered by the state housing finance agency to local city and county programs targeting specific communities.
Maximum assistance available reaches $30,000 through the most generous program. Credit score requirements start as low as 600 for some programs. Most programs require the home to be your primary residence, and many require homebuyer education.
Top Down Payment Assistance Programs in Indiana
Highlighted programs that combine high assistance amounts with statewide or major-metro availability. See the full list below.
Home Ownership Program
openCity of East Chicago - Redevelopment
$30,000
FHLBank Indianapolis HomeBoost DPA
verifyFederal Home Loan Bank of Indianapolis (FHLBank Indianapolis) via member financial institutions
UP TO $25,000 (or 20% of purchase price, whichever is less)
Cook County Home Advantage Program
openClub 720
5 (max $25,000)
INHP Down Payment Assistance
verifyIndianapolis Neighborhood Housing Partnership (INHP)
$7,500 to $24,999
FHLBank Indianapolis Launch DPA
verifyFederal Home Loan Bank of Indianapolis (FHLBank Indianapolis) via member financial institutions
20% of purchase price (max UP TO $20,000 (or 20% of purchase price, whichever is less; minimum $1,000))
Grant Programs (3)
Grants are the gold standard of down payment assistance. You receive the money and never have to pay it back.
FHLBank Indianapolis HomeBoost DPA
Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) via member financial institutions
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 120% AMI
- Min Credit Score
- Not specified
- Property Types
- single-family, 2-4 unit, townhome, condo, cooperative
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- grant
- Profession
- all
- Homebuyer Ed.
- Yes
Income Limits
At or below 120% AMI (based on household size and county)
Check AMI limits for your county →Interest Rate
N/A (grant)
Repayment Terms
Grant; no repayment required.
Additional Requirements
Funds limited; 2026 round opens July 8; $5.3M allocation for 2026
Notes
Requires first-generation AND first-time homebuyer status. First-generation: parents/guardians never owned a home in the US, or borrower aged out of foster care, or became emancipated. $500 minimum buyer contribution. Grant through FHLBank Indianapolis member institutions. Credit score defers to member. Property must be existing dwelling permanently affixed to permanent foundation. Unlike Launch, manufactured housing is NOT eligible for HomeBoost.
FHLBank Indianapolis Launch DPA
Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) via member financial institutions
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 80% AMI
- Min Credit Score
- Not specified
- Property Types
- single-family, townhome, condo, 1-4 unit, manufactured
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- grant
- Profession
- all
- Homebuyer Ed.
- Yes
Income Limits
At or below 80% AMI (based on household size and county)
Check AMI limits for your county →Interest Rate
N/A (grant)
Repayment Terms
Grant with 5-year retention period. Pro-rated repayment from net proceeds if sold/refinanced within 5 years. No repayment if no net proceeds or repayment amount <$2,500. Refinancing permitted if buyer agrees to remain subject to retention for balance of original period. Fully forgiven after 5 years.
Additional Requirements
Funds limited, first-come first-served annually; 2026 round opens April 14; $7.9M allocation for 2026
Notes
Grant through FHLBank Indianapolis member financial institutions. $500 minimum buyer contribution. 2026 round opens April 14. Credit score defers to member institution. Front-end DTI (PITI+HOA) may not exceed 40% of gross income. Cash purchases and construction-to-permanent loans excluded. Mortgage must have term of at least 5 years and amortization of at least 15 years.
Down Payment Assistance
Confederated Tribes of Grand Ronde - Housing
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- grant
- Profession
- All
- Homebuyer Ed.
- Yes
Forgivable Loans (10)
Forgivable loans are forgiven after a set period of living in the home. If you stay, you keep the money.
Inclusive Communities Fund (SSHC)
South Suburban Housing Center (SSHC)
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Varies by tier
- Min Credit Score
- Not specified
- Property Types
- single-family, condo, townhome
- Max Price
- Not specified
Quick Facts
- Loan Types
- Conventional
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
0%
Repayment Terms
Forgivable after 5 years
Additional Requirements
Must not own other real estate
Notes
Conventional financing only (FHA, VA, USDA not eligible). Property must be 1-unit primary residence in East Chicago, Gary, or Hammond. Cannot own other residential real estate at closing. Income tiered: $5,000-$15,000 based on AMI level.
Evansville HOPE First-Time Home Help
HOPE of Evansville
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 80% AMI
- Min Credit Score
- Not specified
- Property Types
- single-family
- Max Price
- $219,000 (existing home); $319,000 (new construction)
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Income Limits
At or below 80% AMI (HUD annual limits for Evansville MSA)
Check AMI limits for your county →Interest Rate
0%
Repayment Terms
Forgivable loan. No payments during affordability period. Forgives over affordability period as long as buyer lives in property as primary residence, does not sell or refinance. Deed restriction recorded.
Additional Requirements
Minimum $1,000 buyer contribution required
Notes
Must complete HOPE Framework course. Min $1,000 buyer contribution matched as needed up to $15,000. DPA set to bring loan to 90% LTV. Property must be within Evansville city limits. HOPE qualifications page currently returns 404.
Gary First-Time Buyer Program
City of Gary
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 80% AMI
- Min Credit Score
- Not specified
- Property Types
- single-family
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
0%
Repayment Terms
Terms vary
Notes
Local delivery of statewide Hoosier Homes program (IHCDA-affiliated). Property must be within City of Gary limits. Income limit may be 140% AMI for Lake County.
Hammond Homebound Program
City of Hammond Planning and Development
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 80% AMI
- Min Credit Score
- Not specified
- Property Types
- single-family
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Repayment Terms
5-year stepped recapture schedule
Notes
Up to $5,000 standard DPA ($10,000 for police, fire, and educators). Property must be within City of Hammond limits.
Bloomington HAND DPA
City of Bloomington Housing and Neighborhood Development (HAND)
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 80% AMI
- Min Credit Score
- Not specified
- Property Types
- single-family, 1-4 unit
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Income Limits
80% AMI. Household: 1: $60,700; 2: $69,400; 3: $78,050; 4: $86,700; 5: $93,650; 6: $100,600; 7: $107,550; 8: $114,450 (updated Dec 2025)
Check AMI limits for your county →Interest Rate
0%
Repayment Terms
Forgivable second mortgage; forgives at 20% per year, fully forgiven after 5 years
Additional Requirements
Must complete Homebuyers Club program
Notes
No minimum credit score requirement (explicitly stated in program guidelines). Must complete HAND Home Buyers educational class (certificate <2 years old) plus 1-hour individualized counseling. Provides up to 10% of purchase price or enough to bring front-end ratio to 25%, whichever is less, capped at $10,000. Property must be within Bloomington city limits. 1-4 unit homes eligible.
Fort Wayne / Pathfinder Services DPA
City of Fort Wayne and Pathfinder Services
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 80% AMI
- Min Credit Score
- Not specified
- Property Types
- single-family
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
0%
Repayment Terms
Forgivable loan; 20% forgiven each full year of residency, fully forgiven after 5 years. Must live in home as primary residence and maintain homeowners insurance.
Additional Requirements
Application at pathfinderhomes.org
Notes
Funded by HUD through City of Fort Wayne Office of Housing and Neighborhood Services. $1,000 minimum buyer contribution. Must be within Fort Wayne city limits. Must attend homebuyer education course. pathfinderhomes.org was timing out during research; verify current terms with Pathfinder Services at 260-355-2517.
Lake County CEDD Homebuyer Assistance Program
Lake County Community Economic Development Department (CEDD)
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Low-moderate income
- Min Credit Score
- Not specified
- Property Types
- single-family
- Max Price
- $223,000 (existing home) or $326,000 (new construction) per FY2021 limits
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Income Limits
80% moderate income (HUD limits). FFY2021 limits: 1-person $50,050; 2: $57,200; 3: $64,350; 4: $71,450 (may be updated; brochure dated July 2023)
Check AMI limits for your county →Interest Rate
0%
Repayment Terms
Forgivable after period of occupancy
Additional Requirements
Must purchase in Lake County Entitlement Area; homebuyer education may be required
Notes
Entitlement Area: Cedar Lake, Crown Point, Dyer, Griffith, Highland, Hobart, Lake Station, Lowell, Merrillville, Munster, New Chicago, Schneider, Schererville, St. John, Whiting, Winfield, and unincorporated areas. Excludes Gary, Hammond, East Chicago. Applicant needs $2,500 own funds. Purchase price limits from brochure: $223,000 existing / $326,000 new (FFY2021, may be outdated).
IHCDA First Place
Indiana Housing and Community Development Authority (IHCDA)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Varies by county (see IHCDA income limit...
- Min Credit Score
- 640+
- Property Types
- single-family, townhome, condo, PUD, manufactured
- Max Price
- Varies by county (see IHCDA acquisition cost limits)
Quick Facts
- Loan Types
- FHA, Conventional
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
0%
Repayment Terms
Forgivable after set period
Notes
Program ended 12/31/2023. Replaced by First Step and Next Home.
IHCDA Next Home
Indiana Housing and Community Development Authority (IHCDA)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Varies by county (see IHCDA income limit...
- Min Credit Score
- 640+
- Property Types
- single-family, townhome, condo, PUD, manufactured
- Max Price
- Varies by county (see IHCDA acquisition cost limits)
Quick Facts
- Loan Types
- Conventional
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
0%
Repayment Terms
Forgivable after 3-year affordability period; due in full if sold, refinanced, or vacated within 3 years
Notes
Available to first-time and repeat buyers. Manufactured homes require minimum 680 FICO. Conventional (Fannie Mae or Freddie Mac) 30-year fixed only.
South Bend CHC - A Home All My Own
South Bend Community Housing Center (CHC)
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 80% AMI
- Min Credit Score
- 640+
- Property Types
- single-family, condo
- Max Price
- $175,000
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
0%
Repayment Terms
Forgivable second mortgage equal to 20% of purchase price. Must make 12 consecutive on-time payments within first 5 years, attend 6 post-purchase training sessions within first year, and attend final meeting. After requirements met, grant forgiven ratably over next 5 years as long as mortgage payments remain current.
Additional Requirements
5-year occupancy requirement
Notes
Must be within South Bend city limits. DTI max 50%. Must complete in-person credit and pre-purchase counseling from HUD-designated agency, plus 6 post-purchase sessions and final meeting. Cannot have signed purchase agreement at time of application.
Deferred Payment Loans (15)
Deferred loans require no monthly payments while you live in the home. You repay when you sell, refinance, or move out.
Home Ownership Program
City of East Chicago - Redevelopment
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
None
Repayment Terms
Forgivable - Fully forgiven at closing or forgiven on a schedule
Cook County Home Advantage Program
Club 720
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
INHP Down Payment Assistance
Indianapolis Neighborhood Housing Partnership (INHP)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- 120% AMI
- Min Credit Score
- 620+
- Property Types
- single-family, townhome, condo, manufactured, 1-4 unit
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- all
- Homebuyer Ed.
- Yes
Income Limits
At or below 120% AMI for Marion County (varies by household size)
Check AMI limits for your county →Interest Rate
0%
Repayment Terms
Terms vary; must use INHP mortgage
Additional Requirements
Must use INHP as lender
Notes
DPA only available with INHP mortgage loan. Cannot be accessed independently. Assistance from $7,500 to $24,999. General INHP lending guidelines: 620 min credit score, 1-3% down payment, no mortgage insurance, 30/43 DTI ratio.
Down Payment and Closing Cost Home Ownership Program
City of Bloomington
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Townhouse/PUD, Condominium
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Repayment Terms
Forgivable - Fully forgiven at closing or forgiven on a schedule
Homebound Downpayment Assistance Program
City of Hammond - Planning and Development
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- $228,000
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
None
Repayment Terms
Forgivable - Fully forgiven at closing or forgiven on a schedule
Vigo County United Way HDPA
United Way of the Wabash Valley
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- 80% AMI
- Min Credit Score
- Not specified
- Property Types
- single-family
- Max Price
- $80,000 (cap on DPA amount; higher purchase prices allowed but DPA capped at $4,000)
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- deferred loan
- Profession
- all
- Homebuyer Ed.
- Yes
Income Limits
80% AMI by county (Clay, Parke, Sullivan, Vermillion, Vigo Counties IN and Clark County IL)
Check AMI limits for your county →Interest Rate
0%
Repayment Terms
Must remain in home for 5 years or repay prorated portion per recapture agreement recorded with county. Applicant must invest $1,000 of own funds.
Notes
Covers Clay, Parke, Sullivan, Vermillion, Vigo Counties (IN) and Clark County (IL). 5% DPA (3% down + 2% closing) up to $4,000. Must obtain private mortgage financing.
Home Down Payment Assistance Program
United Way of the Wabash Valley
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Townhouse/PUD, Condominium
- Max Price
- $80,000
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Not specified
Repayment Terms
Deferred Payment - Repayable at sale or refinance
CAPE Evansville Down Payment Assistance
Community Action Program of Evansville and Vanderburgh County (CAPE)
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Low-moderate income
- Min Credit Score
- Not specified
- Property Types
- single-family
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- deferred loan
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
0%
Repayment Terms
Terms vary
Additional Requirements
Homeownership counseling and financial literacy classes may be required
Notes
CAPE (Community Action Program of Evansville). First-time homebuyers within Evansville city limits. Includes pre/post-purchase counseling, homeownership training, and financial literacy via FDIC Money Smart curriculum taught by HUD-certified counselor. Data thin on website; contact CAPE for detailed terms.
INHP Market Expander
Indianapolis Neighborhood Housing Partnership (INHP)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- 80% AMI
- Min Credit Score
- 620+
- Property Types
- single-family
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- deferred loan
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
Below-market first mortgage (~2.9%); 0% interest second mortgage
Repayment Terms
Second mortgage has 0% interest with payments deferred for 20 years; payments begin year 21 for 10 years
Additional Requirements
Must use INHP as lender; homebuyer education required
Notes
Not a traditional DPA. This IS the loan product: INHP originates both mortgages directly. Not compatible with FHA/VA/USDA/Conventional (portfolio loan). Only in low/moderate-income census tracts within Indianapolis/Marion County. Excludes Beech Grove, Lawrence, Southport, Speedway. Example: $200,000 purchase = $160,000 first at ~2.9% for 20 years + $40,000 second at 0% deferred to years 21-30. 0% down payment in example. Credit score 620 from rate example (medium confidence).
Shared Equity Homeownership Program
City of Bloomington
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Repayment Terms
Deferred Payment - Repayable at sale or refinance
Hoosier Homes
Club 720
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- $300,000
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD, USDA-RD +4
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Step Down
Indiana Housing and Community Development Authority
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Townhouse/PUD, Condominium, Manufactured
- Max Price
- $594,770
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA +2, FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Repayment Terms
Deferred Payment - Repayment at sale or refinance
Home Power Mortgage
My Edge Fund
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
None
Repayment Terms
Deferred Payment - Repayable at sale or refinance
Chenoa Fund FHA Down Payment Assistance Forgivable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Chenoa Fund FHA Down Payment Assistance Repayable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
Note rate 1% above the first mortgage note rate
Repayment Terms
This loan does require a monthly payment on the second mortgage.
Second Mortgages (2)
These programs provide DPA as a second mortgage, sometimes with monthly payments, sometimes deferred.
IHCDA First Step
Indiana Housing and Community Development Authority (IHCDA)
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Varies by county (see IHCDA income limit...
- Min Credit Score
- 640+
- Property Types
- single-family, townhome, condo, PUD, manufactured
- Max Price
- Varies by county (see IHCDA acquisition cost limits)
Quick Facts
- Loan Types
- FHA, Conventional
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
0%
Repayment Terms
Non-forgivable deferred second mortgage at 0% interest; due in full on sale, refinance, or payoff of first mortgage
Notes
First-time buyers required unless property is in HUD targeted census tract or buyer is eligible veteran. Subject to IRS recapture tax during first 9 years.
HomePower (My Edge Fund) - Elkhart County
My Edge Fund
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- 80% AMI
- Min Credit Score
- 600+
- Property Types
- single-family
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Yes
Interest Rate
2% fixed
Repayment Terms
Second mortgage at 2% fixed interest, interest-only payments for 30 years. Covers 20% of purchase price (eliminates PMI).
Notes
Second mortgage product covering 20% of purchase price to eliminate PMI. 2% fixed interest-only for 30 years. Min 600 credit score. Elkhart County only.
How to Apply for Down Payment Assistance in Indiana
-
1
Check Your Eligibility
Use our free eligibility tool to see which programs match your situation. Enter your state, city, income, and target home price.
-
2
Contact the Program Administrator
Each program has its own application process. Visit the program website or call the administering agency to get started. Many programs work through approved lenders.
-
3
Get Pre-Approved with a Participating Lender
Not every lender participates in every DPA program. Work with a lender who is approved for the programs you want. The program administrator can provide a list of approved lenders.
-
4
Complete Homebuyer Education (If Required)
Many programs require a HUD-approved homebuyer education course. Online options through eHome America and Framework are accepted by most programs.
-
5
Close & Move In
DPA funds are typically disbursed at closing alongside your first mortgage. Your lender coordinates the DPA program paperwork as part of the loan process.
Frequently Asked Questions
How much down payment assistance can I get in Indiana?
Up to $30,000 through available programs in Indiana. Multiple programs can often be combined for even more assistance. The exact amount depends on your income, location, and the specific program requirements.
Do I need to be a first-time homebuyer?
Not always. 12 programs in Indiana are open to repeat buyers. "First-time buyer" is typically defined as not having owned a home in the past three years.
What credit score do I need?
As low as 600 for some programs. Most programs require 620-660. Higher credit scores may qualify you for more programs and better terms.
Can I combine multiple DPA programs?
In many cases, yes. Some programs are specifically designed to be layered with others. For example, you might combine a state grant with a local deferred loan. Check with each program administrator about stacking eligibility.
DPA Programs in Nearby States
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