Are you a first-time homebuyer in Indiana? This comprehensive guide is your indispensable resource, offering specialized assistance programs and valuable information exclusively tailored for residents of the Hoosier State. Explore a variety of programs, including down payment assistance and favorable mortgage options, designed to make homeownership more attainable. Navigate the Indiana real estate market with confidence and uncover the unique opportunities that await you in the welcoming communities, historic towns, and scenic landscapes.
State-Wide Programs
| Program | Assistance Offered | Who Should Apply | Assistance Type |
|---|---|---|---|
| Up to 6% of the purchase price for down payment assistance | First time homebuyer who meets income requirements and is buying in the targeted areas | Forgivable second mortgage | |
| Up to $5,000 in down payment assistance ($7500 for vets and active duty) | Homebuyers and veterans that can meet income requirements | Grant | |
| Reduces up to $2,000 in mortgage interest that you pay into federal taxes for the life of your loan | First time homebuyer who meets income limits and lives in the targeted areas | Tax credit | |
| Up to $3.5% of the purchase price of the home as down payment assistance | Homebuyer who meets income and credit score requirements | Loan |
Regional Programs
| County/Region | Program | Assistance Offered | Who Should Apply | Assistance Type |
|---|---|---|---|---|
| Lake | Up to $5,000 in downp ayment assistance | Homebuyers that can meet income requirements | Deferred loan with a 0% interest rate |
City Programs
| City | Program | Assistance Offered | Who Should Apply | Assistance Type |
|---|---|---|---|---|
| Bloomington | Up to $10,000 in down payment and closing costs assistance | First time homebuyers that can meet income requirements and buying a home within the city limits of Bloomington | Forgivable second mortgage | |
| Decatur | Up to $4,500 in down payment assistance | First time homebuyer that can meet income requirements and buying within the city limits of Decatur | Not specified | |
| East Chicago | Up to $25,000 in down payment assistance | Homebuyers purchasing a home in East Chicago | Forgivable second mortgage with a 0% interest rate | |
| Gary | Up to $10,000 in down payment assistance | First time homebuyer that can meet income requirements. | Forgivable second mortgage | |
| Hammond | Up to $2,500 in down payment assistance | First time homebuyer that can meet income requirements. | Grant | |
| Indianapolis | Up to $14,999 in down payment assistance | Homebuyers who meet income requirements | Not specified |
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