First Time Home Buyer Guide Indiana

Additional Resources for Indiana

First Place (FP)

  • What It Offers: Down Payment Assistance (DPA) of 6.0% based on the purchase price. Must be a first-time homebuyer unless the property is in a qualified census tract.
  • Eligibility: Minimum FICO credit score of 640 with a DTI of less than 45.00%.
  • Website: IHCDA

Next Home (NH)

  • What It Offers: DPA of 2.50% or 3.50% based on the purchase price. Can be combined with the Mortgage Credit Certificate (MCC).
  • Eligibility: Minimum FICO credit score of 640 with a DTI of less than 45%.
  • Website: IHCDA

Mortgage Credit Certificate (MCC)

  • What It Offers: A Federal income tax credit that can assist in reducing federal income tax liability and increasing qualifying income.
  • Eligibility: Must be a first-time homebuyer unless the property is in a qualified census tract or the borrower is a qualified veteran.
  • Website: IHCDA