See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 12, 2026
Homebuyer Programs in Plainfield, IN (2026)
Plainfield is a growing town of over 37,000 residents in Hendricks County, Indiana, located just west of Indianapolis along the I-70 corridor. With a median home price around $310,000, Plainfield offers suburban living with easy access to Indianapolis employment and amenities. While Plainfield does not have its own city-funded down payment assistance program, homebuyers benefit from Indiana state programs through IHCDA, the FHLBank Indianapolis Launch grant of up to $20,000, and Greater Indy Habitat for Humanity which serves Hendricks County. Greater Indy Habitat is actively building in Hendricks County, including a new Hope Landing development in nearby Avon. Between state forgivable loans and nonprofit resources, first-time buyers in Plainfield may be able to reduce their upfront costs by $10,000 or more.
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 → |
| Greater Indy Habitat for Humanity Homeownership Program | Zero-Interest Loan | Affordable mortgage with reduced purchase price | No | View → |
- Type:
- Grant
- Amount:
- Up to $20,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with reduced purchase price
- First-time only:
- No
How to Apply
Step 1: Review your finances and check your credit report for free at AnnualCreditReport.com. Most programs require a minimum credit score of 640 and income at or below area limits for Hendricks County.
Step 2: Complete a HUD-approved homebuyer education course. This is required for IHCDA programs and Habitat for Humanity. Find approved courses at in.gov/ihcda or by calling 800-569-4287.
Step 3: Research available programs. Plainfield buyers can access IHCDA First Place (up to 6% of purchase price), IHCDA Next Home (up to 3.5%), the Mortgage Credit Certificate for annual tax savings, and the FHLBank Launch grant (up to $20,000). Greater Indy Habitat for Humanity builds affordable homes in Hendricks County.
Step 4: Connect with an IHCDA-participating lender who can help you apply for state down payment assistance alongside your mortgage. A list of approved lenders is available at in.gov/ihcda.
Step 5: Get pre-approved and begin your home search in Plainfield. Work with your lender to confirm which programs you qualify for based on income, credit score, and household size.
Step 6: Once you go under contract, your lender will finalize assistance applications. Keep all documentation organized and respond promptly to requests to ensure a smooth closing.
Frequently Asked Questions
What down payment assistance programs are available in Plainfield, IN?+−
Does Plainfield have its own city down payment assistance program?+−
Does Habitat for Humanity serve Plainfield?+−
What is the income limit for programs in Plainfield?+−
Do I have to be a first-time homebuyer to qualify?+−
What are estimated closing costs for a home in Plainfield?+−
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