Indiana First-Time Home Buyer Programs of 2020

NerdWalletJanuary 23, 2020
Indiana First-Time Home Buyer Programs

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If you’re a first-time home buyer in Indiana, the state’s housing authority wants to help with what’s likely going to be the biggest purchase you’ve ever made.

The Indiana Housing and Community Development Authority, or IHCDA, offers mortgage programs for qualified first-time home buyers. You're considered a first-time buyer if you have not owned your primary residence in the last three years.

The requirement to be a first-time home buyer is waived for military veterans and for people who buy in economically disadvantaged "target areas." Some of the programs are open to repeat buyers who meet income guidelines.

National first-time home buyer programs

IHCDA highlights and eligibility requirements


  • Some programs offer down payment assistance.

  • Loans can be used to buy single-family houses, two- to four-unit dwellings, town houses and condominiums.

  • All qualified loans are 30-year fixed-rate mortgages.


  • Income limits vary by county and depend on family size.

  • Manufactured homes are not eligible.

  • Borrower pays a $100 "reservation fee."

Compare IHCDA lenders

Indiana first-time home buyer loan programs

Summary: 2020 IHCDA first-time home buyer programs

  • Affordable Home for low- to moderate-income home buyers who have enough money for their down payment and closing costs.

  • My Home for low- to moderate-income home buyers who provide funds for down payment and closing costs.

  • Helping to Own (H2O) for down payment assistance on FHA loans.

  • Next Home for down payment assistance on FHA or conventional loans.

  • Mortgage Credit Certificates for federal income tax breaks.

Visit the IHCDA's homeownership programs page for brief summaries of each loan program and related links to dig deeper. Some loan programs have income limits, home price limits or both; links to those can be found on the IHCDA's income and acquisition limits page. IHCDA maintains a chart that lays out basic features and requirements of each loan program.

The state maintains a list of participating lenders, organized by county.

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