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Get Matched Free →Homebuyer Programs in Fishers, IN (2026)
Fishers is a fast-growing city in Hamilton County, just northeast of Indianapolis, and ranks among Indiana's most desirable suburbs with a median home price around $399,000. While Fishers does not currently offer city-funded down payment assistance, buyers here can take advantage of several state programs through the Indiana Housing and Community Development Authority (IHCDA). The IHCDA First Place Program provides up to 6% of the purchase price as a forgivable second mortgage, and the Next Home Program offers up to 3.5% with forgiveness after just two years. On a $399,000 home, the First Place Program alone could provide nearly $24,000 in assistance, making homeownership significantly more attainable even in this higher-priced market.
State Programs in Indiana
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| IHCDA First Place Program | Forgivable Loan | Up to 6% of the purchase price | Yes | View → |
| IHCDA Mortgage Credit Certificate (MCC) | Tax Credit | Up to $2,000 per year in federal tax credits | Yes | View → |
| IHCDA Next Home Program | Forgivable Loan | Up to 3.5% of the purchase price (FHA) or 3% (Conventional) | No | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to 6% of the purchase price
- First-time only:
- Yes
- Type:
- Tax Credit
- Amount:
- Up to $2,000 per year in federal tax credits
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to 3.5% of the purchase price (FHA) or 3% (Conventional)
- First-time only:
- No
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Habitat for Humanity Hamilton County Homeownership Program | Zero-Interest Loan | Affordable mortgage on a Habitat-built home with no-profit, interest-free terms | Yes | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage on a Habitat-built home with no-profit, interest-free terms
- First-time only:
- Yes
How to Apply
Check your eligibility. IHCDA income limits for Hamilton County vary by household size, ranging from $82,100 to $138,740. Income and purchase price limits are determined by the county where the home is located, not your current residence.
Complete homebuyer education. All IHCDA programs require completion of homebuyer education through an IHCDA-approved provider. Habitat for Humanity Hamilton County also offers homeownership education through their program. Contact them at 317-896-9423 for course information.
Contact an IHCDA Participating Lender. You must use an IHCDA-approved lender to access state down payment assistance programs. The lender will determine your eligibility based on income, credit score, and purchase price limits for Hamilton County.
Choose your programs. The IHCDA First Place Program offers up to 6% of the purchase price (requires 640+ credit score) and the Next Home Program offers up to 3.5% (requires 660+ credit score). You can also add the Mortgage Credit Certificate (MCC) for up to $2,000 per year in federal tax credits.
Find a home within program limits. IHCDA purchase price limits for Hamilton County may cap eligible homes. Verify current limits with your IHCDA Participating Lender, as they vary by county and are updated periodically.
Submit your application and close. Your IHCDA Participating Lender will process the DPA application alongside your mortgage. Plan for a closing timeline of 30-45 days once your offer is accepted.