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Helping Indiana residents buy a home with up to 5% down payment and/ or closing costs assistance (including rate buy-downs in targeted areas), making homeownership more affordable.
5% down payment assistance for targeted areas (up to 3% for non-targeted areas).
Hoosier Homes welcomes all buyers, not just first-time homebuyers.
Competitive interest rates with Permanent Interest Rate Reduction offered in targeted areas.
Experience: Leading community lender since 1988
Reliability: We hold over 90% of our loans
Flexibility: We offer a variety of loan options tailored to your specific needs
Coverage: Licensed in all 50 states and the District of Columbia
The Hoosier Homes program is a down payment assistance initiative designed to increase homeownership opportunities for low to moderate-income individuals and families in Indiana. It provides financial support to help with down payment and/or closing costs (including rate buy-downs in targeted areas).
The Hoosier Homes program offers up to 5% of the loan amount as assistance, which can be used towards the down payment, closing costs, or both (including rate buy-downs in targeted areas).
The program is available to eligible borrowers who meet the income and credit score requirements. A minimum FICO score of 640 is required, and the maximum debt-to-income (DTI) ratio is 50%. Income limits vary by county and city.
The program supports FHA, VA, USDA, and Conventional Loans, including options for lower interest rates for borrowers with incomes at or below 80% of the area median income (AMI).
Eligible properties include single-family homes, townhomes, manufactured homes, and condominiums. The home must be used as your primary residence to qualify for the program.