Down payment assistance, grants, forgivable loans, and tax credits available to Indiana buyers. Each program below is verified, with eligibility rules, benefit amounts, and a direct link to the official agency.
Last reviewed July 2026·2 programs·6 federal programs
Administered by Indiana Housing & Community Development Authority
5% of purchase price
Down payment assistance (launched Jan 2024, successor to First Place) as a 0% interest non-forgivable second, due in full at sale, refinance, end of the first mortgage, or non-occupancy. Works with FHA or conventional first mortgages.
Income limit
Income limits apply
Minimum credit score640
First-time buyer requiredYes
Special requirements: First-time buyer required unless purchasing in a targeted tract or military. $250 reservation fee. Homebuyer education required.
Administered by Indiana Housing & Community Development Authority
2.5% or 3.5% of purchase price
Down payment assistance for first-time AND repeat buyers as a non-forgivable second, repaid when the first mortgage ends or the home stops being your primary residence.
Income limit
Income up to $99,400 for most counties
Minimum credit score640
First-time buyer requiredNo
Special requirements: Available to first-time and repeat buyers.
Low down payment mortgage with reduced mortgage insurance. Allows income from non-borrower household members. A $2,500 credit for very-low-income borrowers (50% AMI or less) is available through early 2027 when at least one borrower is a first-time buyer.
Do I have to be a first-time homebuyer to qualify?
Most Indiana programs require first-time buyer status, but the definition is broader than most people think — the IRS considers you a first-time buyer if you haven't owned a primary residence in the last three years. Each program above lists its specific rules.
What credit score do I need?
Minimum credit scores vary by program. Most Indiana programs require 620 to 660, though some lower-tier products accept lower scores with manual underwriting. Check each program's eligibility section above.
How do I actually apply?
Most state programs aren't applied to directly — you go through a participating lender, who handles the program application as part of your mortgage. Each program above links to the official agency page with the current list of approved lenders.
Can I combine multiple programs?
Often yes — many states allow you to stack a state down-payment grant with a federal FHA or VA loan. Some programs explicitly forbid combining; check each program's "special requirements" above.
Do these programs cost anything?
The programs themselves are free to apply for. Some require completing a homebuyer education course (typically $50–$100, sometimes free). Forgivable second mortgages technically don't cost you unless you sell or refinance early — read the terms carefully.
