See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 12, 2026
Homebuyer Programs in Greenwood, IN (2026)
Greenwood is a growing suburban city in Johnson County, Indiana, located just south of Indianapolis, with a median home price of approximately $300,000. While Greenwood does not currently offer a city-funded down payment assistance program, buyers here can take advantage of several strong state and regional programs. The IHCDA First Place Program offers up to 6% of the purchase price as a forgivable loan for first-time buyers, and the IHCDA Next Home Program provides up to 3.5% for FHA loans. The FHLBank Indianapolis Launch program offers up to $20,000 in grant funds for qualifying first-time buyers at or below 80% AMI. Locally, Habitat for Humanity of Johnson County provides affordable homeownership opportunities for qualifying families. By combining state programs and regional resources, Greenwood buyers can still access meaningful assistance to reduce their upfront costs.
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 → |
| 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:
- 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 |
|---|---|---|---|---|
| FHLBank Indianapolis Launch Down Payment Assistance | Grant | Up to $20,000 | Yes | View → |
| Habitat for Humanity of Johnson County Homeownership Program | Zero-Interest Loan | Affordable home with zero-interest mortgage sold at no profit | No | View → |
- Type:
- Grant
- Amount:
- Up to $20,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home with zero-interest mortgage sold at no profit
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. Most state programs require household income at or below certain limits for Johnson County. Review the IHCDA income and acquisition price limits for your household size and county.
Step 2: Complete homebuyer education. A HUD-approved homebuyer education course is required for most DPA programs. Search the Housing4Hoosiers.org housing counseling services map to find approved counselors near Greenwood, or contact IHCDA for referrals.
Step 3: Explore local options. Habitat for Humanity of Johnson County offers affordable homeownership for qualifying families. Visit their website or contact them to learn about current application windows and eligibility requirements.
Step 4: Get pre-approved for a mortgage. Work with an IHCDA-approved lender to access the First Place or Next Home programs. Ask your lender about FHLBank Indianapolis Launch funds, which provide up to $20,000 for qualifying first-time buyers.
Step 5: Find a home within program limits. Check IHCDA acquisition price limits for Johnson County to ensure the home you choose qualifies for state DPA programs.
Step 6: Submit your applications. Your IHCDA-approved lender will help you apply for state programs at closing. FHLBank Launch funds are applied for through your participating lender on a first-come, first-served basis during annual funding rounds.
Frequently Asked Questions
How much down payment assistance can I get in Greenwood?+−
Do I have to be a first-time homebuyer to qualify?+−
What is the maximum home price I can pay using these programs?+−
What homebuyer education is required?+−
Are there any local Greenwood or Johnson County programs?+−
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