Program Overview
IHCDA Residential Construction Mortgage Program
This construction-focused initiative helps Hoosiers build their dream home by offering a single mortgage that rolls from construction to permanent financing.
How It Works:
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Combines short-term construction financing and long-term mortgage
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Streamlines the process with a single application and closing
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Typically uses fixed-rate mortgage conversion at completion
Best For:
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Families building custom homes
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Buyers with pre-purchased land or a builder agreement
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Those wanting to avoid two separate closings
Key Features:
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Affordable rates
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Support for homeownership
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Available statewide
Who Should Use This Program?
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First-time homebuyers looking for affordability
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Low- to moderate-income families
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Residents seeking long-term housing stability
What You Need to Know
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Program eligibility varies by income and location
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You may be required to complete a homebuyer course
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Assistance may be structured as a grant or loan
Next Steps
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Review eligibility requirements and program benefits
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Contact a participating lender or city agency
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Gather financial documents and prepare to apply
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Complete homebuyer counseling if needed
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Finalize your loan and receive program benefits
π Key Features
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Tailored to Indiana homebuyers
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Access to financial assistance
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Available through approved lenders statewide
π€ Who Is This Program For?
This program is ideal for:
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First-time or repeat homebuyers in Indiana
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Households with limited income or savings
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Buyers seeking predictable monthly mortgage payments
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Individuals needing help with upfront costs like down payments or closing fees
π What Sets It Apart?
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Competitive interest rates and loan terms
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Potential combination with federal or local incentives
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Emphasis on sustainable homeownership and financial stability
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Support from certified housing counselors
π How to Get Started
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Visit the official program website or contact an approved IHCDA lender.
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Gather documentation (proof of income, credit report, home purchase agreement, etc.).
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Complete a required homebuyer education course if applicable.
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Submit your application and await approval.
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Close on your new home and enjoy the benefits of homeownership.