Indianapolis Homeownership Incentive Program

Program Overview

Indianapolis Homeownership Incentive Program

This program supports first-time buyers purchasing homes in Indianapolis by offering down payment or closing cost assistance, often in partnership with city or local housing nonprofits.

Key Features:

• Targeted to encourage homeownership within city neighborhoods

• May include forgivable loans or grants

• Can be combined with IHCDA or lender programs

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.

• Must be a first-time homebuyer

• Must purchase a home in Indianapolis

• Must meet income limits set by city guidelines

• Reduces out-of-pocket costs for new buyers

• Supports community revitalization

• Encourages long-term ownership

1. Contact participating nonprofit or city housing agency

2. Attend required homebuyer education

3. Apply for mortgage and program concurrently

4. Close on eligible home in Indianapolis