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City of Gary First Time Homebuyer Program (HON)

Administered by: City of Gary Department of Community Development · City · Forgivable Loan

Funding status: Active

How much assistance

Up to 10% of purchase price or $10,000, whichever is less. Amount varies by AMI: 80-70% AMI up to $4,000; 69-60% AMI up to $5,000; 59-50% AMI up to $6,000 (Forgivable Loan)

Eligibility

  • Income limits: 1-person: $40,800; 2-person: $46,600; 3-person: $52,450; 4-person: $58,250; 5-person: $62,950; 6-person: $67,600
  • First-time buyer required: Yes — Must not have owned a home in the past 3 years
  • Geographic restrictions: Must purchase a single-family home in a City of Gary Target Area
  • Homebuyer education required: Yes

How to Apply for City of Gary First Time Homebuyer Program (HON)

Step 1: Contact the City of Gary Community Development Division at (219) 881-5075 for information on scheduled Homebuyer Education Workshop dates. Complete the HON Homebuyer Education Workshop and counseling sessions, then apply for assistance on a first-come, first-served basis. Certificates from other HUD-certified agencies are accepted if dated within 12 months of application.

Notes

Uses HOME Investment Partnerships Program funds. Assistance provided as forgivable loan for down payment, principal reduction, and closing costs. One-time assistance only.

Cities Where This Program Is Available