First-time home buyer programs in Indiana
Indiana's IHCDA offers percentage-based assistance worth up to 6% of the purchase price, with a forgivable structure for first-time buyers (First Place / First Step) and a separate track for repeat buyers (Next Home).
Brokers in our network can pair these programs with competing loan offers — free, no obligation.
First Place / First Step
IHCDA's first-time buyer assistance — among the larger forgivable seconds in the Midwest.
- Up to 6% of the purchase price in down payment assistance
- Forgivable second mortgage — stay roughly 9 years and the balance is forgiven
- Minimum 640 credit score (660 for some FHA structures)
- First-time buyers, qualified veterans, or targeted census tracts
Next Home
Assistance for buyers who no longer qualify as first-timers.
- Up to 3.5% of the price in down payment assistance
- Open to repeat buyers
- Same county income limits and primary-residence requirement
- Homebuyer education required
Program terms, income limits, and funding availability change throughout the year — confirm current details with IHCDA or a licensed Indiana broker before relying on them.
Pair assistance with an FHA loan in Indiana
Most Indiana first-time buyers combine down payment assistance with an FHA first mortgage. 2026 FHA one-unit limits run from $541,287 (the national floor) up to $541,287 in Indianapolis.
See all 2026 Indiana FHA loan limits →Find a broker in your Indiana market
Local brokers know which programs are funded right now and how to stack them:
Indiana first-time buyer FAQ
How much help can a first-time buyer get in Indiana?
Up to 6% of the purchase price through IHCDA's first-time buyer programs, structured as a forgivable second mortgage — stay in the home about nine years and you owe nothing.
I've owned a home before — can I still get Indiana assistance?
Yes. IHCDA's Next Home program offers up to 3.5% of the price for repeat buyers, with the same income limits and education requirement.
How do I apply for IHCDA programs?
Through an IHCDA-approved lender — they prequalify your income and credit (640+ minimum), you complete the homebuyer course, and the assistance is built into your closing.
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