South Bend First-Time Homebuyer Program

Program Overview

South Bend First-Time Homebuyer Program

This program provides eligible buyers with financial assistance for down payment and closing costs in an effort to expand affordable homeownership in South Bend.

Key Features:

• Assistance may be forgivable

• Income-based qualification

• Local lender partnerships

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 buyer in South Bend

• Must meet income and purchase limits

• Must complete a homebuyer education class

• Helps buyers cover out-of-pocket expenses

• Supports stable community housing

• Encourages responsible homeownership

1. Apply through South Bend Department of Community Investment

2. Complete education and counseling

3. Secure loan through a participating lender

4. Receive financial assistance at closing