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First Time Homebuyer Programs

First Time Homebuyer Programs in Indiana

Discover Indiana's first-time homebuyer programs offering down payment assistance and affordable mortgage options to help you achieve your dream of homeownership.

First Time Homebuyer Programs in Indiana

Indiana provides a variety of programs through the Indiana Housing and Community Development Authority (IHCDA) to assist first-time homebuyers. These programs offer financial support and competitive loans to make homeownership more achievable.

Next Home Program

The Next Home Program is tailored for first-time buyers or those re-entering the housing market.

  • Provides down payment assistance of up to 3.5% of the home’s purchase price.
  • Assistance is forgivable after two years of homeownership.
  • Must be used in conjunction with an IHCDA loan.

First Place Program

The First Place Program offers favorable mortgage options for first-time buyers.

  • Features a 30-year fixed-rate mortgage with competitive interest rates.
  • Available for FHA, VA, USDA, and conventional loans.
  • Income and purchase price limits apply.

Mortgage Credit Certificate (MCC)

The MCC Program provides significant tax savings for eligible homebuyers.

  • Offers a federal tax credit equal to 20-35% of annual mortgage interest paid.
  • Can be combined with other IHCDA programs for additional benefits.
  • Designed for first-time buyers or those purchasing in targeted areas.

Indiana’s first-time homebuyer programs are designed to help you take the next step toward owning your home. With financial assistance and tailored loan options, homeownership is more within reach than ever.

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