IHCDA Next Home Program

Program Overview

IHCDA Next Home Program

The Next Home Program supports both first-time and repeat buyers in Indiana. It offers a 30-year fixed mortgage with optional DPA up to 3.5%, without requiring first-time buyer status.

Program Highlights:

• Open to all eligible buyers

• Includes down payment assistance

• Works with FHA, VA, and conventional loans

• Encourages mobility and second-time ownership

Who Should Use This Program?

• First-time homebuyers looking for affordability

• Low- to moderate-income families

• Residents seeking long-term housing stability

What You Need to Know

• Program eligibility varies by income and location

• You may be required to complete a homebuyer course

• Assistance may be structured as a grant or loan

Next Steps

1. Review eligibility requirements and program benefits

2. Contact a participating lender or city agency

3. Gather financial documents and prepare to apply

4. Complete homebuyer counseling if needed

5. Finalize your loan and receive program benefits

🔍 Key Features

• Tailored to Indiana homebuyers

• Access to financial assistance

• Available through approved lenders statewide

👤 Who Is This Program For?

This program is ideal for:

• First-time or repeat homebuyers in Indiana

• Households with limited income or savings

• Buyers seeking predictable monthly mortgage payments

• Individuals needing help with upfront costs like down payments or closing fees

📌 What Sets It Apart?

• Competitive interest rates and loan terms

• Potential combination with federal or local incentives

• Emphasis on sustainable homeownership and financial stability

• Support from certified housing counselors

📝 How to Get Started

1. Visit the official program website or contact an approved IHCDA lender.

2. Gather documentation (proof of income, credit report, home purchase agreement, etc.).

3. Complete a required homebuyer education course if applicable.

4. Submit your application and await approval.

5. Close on your new home and enjoy the benefits of homeownership.

• Available to both first-time and repeat buyers.

• Must purchase a home in Indiana and occupy it as a primary residence.

• Must meet income eligibility limits set by IHCDA.

• Must apply through a participating lender.

• Completion of homebuyer education is encouraged, and sometimes required depending on DPA usage.

• Open to both first-time and repeat buyers

• Up to 3.5% down payment assistance

• 30-year fixed-rate loan with stable terms

• Available statewide through approved lenders

1. Work with an IHCDA-participating lender

2. Provide income and asset verification

3. Choose your preferred DPA structure

4. Finalize application and homebuyer education

5. Close the loan and move in