Indiana First-Time Home Buyer Programs of 2024

Indiana First-Time Home Buyer Programs

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Updated · 1 min read
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Written by Phil Metzger
Content Management Specialist
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Assistant Assigning Editor
Fact Checked

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."

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