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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 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

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.

Learn More About Homebuying Assistance

Cities Where This Program Is Available (1 city across 1 state)