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Get Matched Free →IHCDA First Place Program
Funding status: Active
How much assistance
Up to 6% of the purchase price (Forgivable Loan)
Forgiven after 9 years if buyer remains in the home and does not sell or refinance.
Eligibility
- Income limits: Varies by county; ranges from $82,100 to $138,740 depending on household size and location.
- First-time buyer required: Yes — Must not have owned a home in the past 3 years. Veterans and buyers in targeted areas are exempt from first-time buyer requirement.
- Credit score minimum: 640
- Geographic restrictions: Must purchase within Indiana.
- Homebuyer education required: Yes
How to Apply for IHCDA First Place Program
Step 1: Contact an IHCDA Participating Lender to apply. Complete required homebuyer education through an IHCDA-approved provider. The lender will determine eligibility based on income, credit, and purchase price limits for the county where the home is located.
Notes
Purchase price limits vary by county ($331,650 to $405,350). Credit score of 680 required if DTI ratio exceeds 45%. Pairs with FHA or Conventional 30-year fixed-rate loans.