Indiana First-Time Home Buyer Programs of 2024

Updated
Profile photo of Phil Metzger
Written by Phil Metzger
Content Management Specialist
Profile photo of Dawnielle Robinson-Walker
Assistant assigning editor at large
Fact Checked
Indiana First-Time Home Buyer Programs

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

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’ll ever make.

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 past 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.

IHCDA highlights and eligibility requirements

HIGHLIGHTS

  • Some programs offer down payment assistance.

  • Loans can be used to buy single-family houses, manufactured homes, townhouses and condominiums.

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

ELIGIBILITY

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

  • Borrower pays a nonrefundable $100 "reservation fee."

Mortgage loans from our partners

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

5.0

NerdWallet rating 
NBKC - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on NBKC

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage

Better - PURCHASE logo
Check Rate

on Better

Better

4.5

NerdWallet rating 
Better - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on Better

Tomo - PURCHASE logo
Check Rate

on Tomo

Tomo

4.0

NerdWallet rating 
Tomo - PURCHASE logo

4.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 

3%

Check Rate

on Tomo

Guaranteed Rate - PURCHASE logo
Check Rate

on Guaranteed Rate

Guaranteed Rate

5.0

NerdWallet rating 
Guaranteed Rate - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on Guaranteed Rate