About the Program

The Indiana Housing and Community Development Authority (IHCDA) provides several programs to assist homebuyers with down payments, closing costs, and 30-year fixed-rate mortgages. Key incentives include the NextHome program (4% assistance) and First Place (up to 6% assistance), often featuring deferred, interest-free loans for income-qualified, first-time buyers. Programs include:

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First Step Program

This program offers qualifying first-time homebuyers with 5% of the price of the home in down payment assistance.

Must be first time homebuyer or purchase in targeted census tract

• First time homebuyer*
• Down Payment Assistance (DPA)
• 30 Year Fixed-Rate mortgage
• FHA or Conventional
• Non-Forgivable DPA
• $250 Reservation Fee

Click here to access the Homeownership Program Guide

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Step Down Program

A rate-only program for qualifying first-time homebuyers.

• First time homebuyer*
• 30 Year Fixed-Rate mortgage
• FHA or Conventional
• $250 Reservation Fee

*Must be first time homebuyer or purchase in targeted census tract

Click here to access the Homeownership Program Guide

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Next Home Program

This program offers qualifying homebuyers up to 3.5% of the price of the home in down payment assistance.

• Down Payment Assistance (DPA) of 2.50% or 3.50%
• Based on the purchase price
• Not to exceed the appraised value
• FHA or Conventional 30-year fixed rate loan

Click here to access the Homeownership Program Guide

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Next Step Program

This program offers a one-time refinancing opportunity for IHCDA First Place and First Step mortgages.

Refinance Program

• One-time refinance opportunity for IHCDA First Place and First Step mortgages
• 30 Year Fixed-Rate mortgage
• FHA or Conventional
• Non-Forgivable DPA
• $250 Reservation Fee

Click here to access the Homeownership Program Guide

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