First Time Homebuyer Checklist
Indiana First Place Program Checklist
A step-by-step checklist for consumers applying for the Indiana First Place Program in 2025.
Confirm Your Eligibility
- Verify that your household income is within the program’s limits, which vary by county and family size.
- Ensure your credit score meets the program’s minimum requirement, typically 640 or higher. Your assigned Loan Officer may provide additional guidance based on your specific situation.
- Confirm that the property you plan to purchase is within the program’s price limits and will serve as your primary residence.
- Check if you meet any additional criteria, such as being a first-time homebuyer or purchasing in a designated targeted area.
Prepare Necessary Documentation
- Collect proof of income, including recent pay stubs, W-2 forms, or other documentation verifying earnings.
- Gather your tax returns for the past two years, including all schedules and attachments.
- Obtain recent bank statements covering the last two to three months for all financial accounts.
- Prepare property details, such as the address, purchase agreement, and sale price.
- Compile any additional documents requested by your Loan Officer, such as verification of debts, liabilities, or proof of assets.
Work with Your Assigned Loan Officer
- Your assigned Loan Officer will assist you in navigating the Indiana First Place Program application process.
- Schedule a meeting or phone call with your Loan Officer to confirm eligibility, discuss program benefits, and review the steps needed to complete your application.
- Ask questions about program requirements, documentation, or the timeline for approval.
- Follow your Loan Officer’s instructions to gather and submit all necessary materials accurately and promptly.
Complete Your Application
- Collaborate with your Loan Officer to accurately complete your application for the Indiana First Place Program.
- Submit all required documents to verify your eligibility for the program.
- Carefully review your application with your Loan Officer to ensure it is complete and error-free before submission.
- If necessary, attend a homebuyer education course to fulfill program requirements.
Finalize Your Enrollment
- Sign all necessary documents provided by your Loan Officer to secure your participation in the program.
- Prepare for any additional costs not covered by the program benefits, such as closing fees or prepaid expenses.
- Receive confirmation of your enrollment and detailed instructions on how the program benefits will be applied to your mortgage or home purchase.
Maintain Compliance with Program Terms
- Ensure the purchased property remains your primary residence for the duration specified by the program guidelines.
- Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as these actions could impact your program benefits.
- Stay informed about program updates or changes to maintain compliance and retain your assistance benefits.
Bootcamp For Buyers
Get Expert Guidance
Our team will walk you through this checklist and help you find the best programs for your situation.
Loading form…