Indiana Down Payment Assistance
Indiana Down Payment Assistance Programs
A guide to current down payment assistance options in Indiana, including the state Housing Finance Agency, well-known city and county programs, and live DPA mortgage pricing for Indiana homebuyers.
Indiana Housing Finance Agency
Indiana Housing and Community Development Authority (IHCDA)
IHCDA administers the primary DPA programs for Indiana. Program details below are current as of October 17, 2026 - confirm current terms directly with IHCDA before applying.
Statewide DPA Programs in Indiana
First Step
IHCDA
5% of the purchase price as a non-forgivable second mortgage, paired with a 30-year fixed-rate first mortgage. Repaid in full when the first mortgage is paid off, sold, or refinanced, or when the home stops being the primary residence.
Paired with: FHA, Conventional
- First-time homebuyer: Required
- Primary residence only
- Minimum FICO: 640
- Maximum DTI: 45%
- Income: IHCDA income limits apply; vary by county and household size.
- Homebuyer education required
First-time buyer rule waived for eligible veterans and purchases in targeted areas. Bond program, so federal recapture tax may apply. The First Place program ended 12/31/2023. $250 reservation fee.
Source: www.in.gov
Next Home
IHCDA
2.5% or 3.5% of the lesser of purchase price or appraised value as a non-forgivable second mortgage. Repaid in full when the first mortgage is paid off, sold, or refinanced, or when the home stops being the primary residence.
Paired with: FHA, Conventional
- Primary residence only
- Minimum FICO: 640
- Maximum DTI: 45%
- Income: IHCDA income limits apply; vary by county and household size.
- Homebuyer education required
Available to both first-time and repeat buyers. Paired with a 30-year fixed-rate FHA or conventional first mortgage.
Source: www.in.gov
Major City & County Programs in Indiana
INHP Down Payment Assistance
Indianapolis Neighborhood Housing Partnership · Indianapolis, IN
Down payment assistance of $5,000 or more at closing, subject to availability.
Funds are only available with an INHP mortgage loan. Household income under 120% of HUD median income for Marion County. Confirm current funding and eligibility with INHP.
Source: www.inhp.org
2026 Loan Limits in Indiana
Conforming (Conventional)
$832,750 baseline
FHA
$541,287
Standard FHA limit, applies to most Indiana counties.
Live DPA Pricing for Indiana
Pricing below is sourced live from hundreds of wholesale lenders for a Indiana scenario. Edit the inputs to match your situation.
FHA Down Payment Assistance
Up to 5% assistance; repayable second at first rate + 2% over 10 years
▸Program details
- ✓Minimum credit score: 580
- ✓Non-traditional credit also possible
- ✓Assistance up to 2.5%, 3.5%, or 5% of the lesser of purchase price or appraised value
- ✓Assistance can be used for down payment, closing costs, or both
- ✓Second lien: 10-year fixed, repayable
- ✓Second lien rate is 2% higher than the first mortgage rate
- ✓No first-time homebuyer requirement
- ✓No income cap
- ✓Purchase of primary residence only
- ✓Eligible properties: 1-unit residences, PUD, 2-4 units, FHA-approved condos, manufactured (single/double-wide)
- ✓DTI per AUS and FHA manual underwriting guidelines
- ✓First lien: FHA 30-year fixed
Assistance amount
Compare DPA options for Indiana with live pricing
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