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City of Bloomington HAND Down Payment and Closing Cost Assistance

Administered by: City of Bloomington Housing and Neighborhood Development (HAND) · City · Forgivable Loan

Funding status: Active

How much assistance

Up to $10,000 (Forgivable Loan)

Forgivable second mortgage that forgives at a rate of 20% per year. Fully forgiven after 5 years of owner-occupancy.

Eligibility

  • Income limits: Household income at or below 80% of area median income (AMI)
  • First-time buyer required: Yes — Must be a first-time homebuyer
  • Geographic restrictions: Must purchase a one to four unit home within the city limits of Bloomington, IN for use as primary residence
  • Homebuyer education required: Yes

How to Apply for City of Bloomington HAND Down Payment and Closing Cost Assistance

Step 1: Contact HAND at 812-349-3401. Complete the Homebuyers Club (two consecutive Saturday sessions) and meet with a housing counselor. Must provide proof of income including current financial statement and previous year federal income tax return.

Visit program website

Notes

HAND is a HUD-Certified Housing Counseling Agency. The Homebuyers Club is offered multiple times per year and is free of charge.

Cities Where This Program Is Available