▷ Empower Your Move: First Step + Down Payment Assistance

First Step + Down Payment Assistance is a powerful initiative offered by the Indiana Housing and Community Development Authority (IHCDA) designed to help first-time homebuyers in Indiana. This program provides financial support that makes the journey to homeownership more achievable and stress-free, especially for those struggling with the upfront costs of purchasing a home.

What Is First Step + Down Payment Assistance?

The First Step + program provides up to 6% down payment assistance to qualifying buyers in Indiana. This assistance is offered in the form of a forgivable second mortgage, making it easier to purchase a home without the burden of significant upfront costs. In most cases, the assistance is forgiven after a certain number of years, helping buyers focus on building equity and stability.

Key Benefits of the Program

6% down payment assistance toward the purchase price.
No repayment after a forgiveness period (typically 5-7 years).
Works in conjunction with IHCDA’s First Place or Next Home programs.
Available to first-time and repeat homebuyers (depending on location).

Whether you’re buying in Indianapolis or a rural county, this initiative can be a financial game-changer for your homeownership plans.

Eligibility Criteria for Indiana Homebuyers

To qualify for the First Step + Down Payment Assistance, applicants must meet the following criteria:

Minimum FICO score of 640 (660 for some FHA loans).
Meet income limits based on county and household size.
Property must be used as primary residence.
Completion of a homebuyer education course.

These requirements ensure responsible homeownership and long-term housing stability for Indiana residents.

How to Apply for First Step + Assistance

Applying is easy and streamlined:

Contact an IHCDA-approved lender.
Submit your income and credit details for prequalification.
Complete a homebuyer education course.
Finalize your mortgage with the down payment assistance integrated.

📝 Indiana First-Time Homebuyer Guide

Why Choose First Step + for Your First Home?

Saving for a down payment can be one of the biggest obstacles for prospective homeowners. The First Step + Down Payment Assistance allows individuals and families to step into their dream home faster, with greater financial confidence. You don’t have to delay homeownership any longer.

Additional Support Available in Indiana

Alongside the First Step + Program, Indiana offers multiple support options:

Tips for Maximizing Your Assistance

Here are a few strategies to make the most of the First Step + Down Payment Assistance:

Work with a certified housing counselor.
Get prequalified to understand your budget clearly.
Compare different lenders for competitive rates.

Take the First Step Toward Your Future

The First Step + Down Payment Assistance program is more than just financial help—it’s an opportunity to own a home in Indiana with peace of mind. If you’ve been on the fence about buying, this program can be your launching pad.

🔍 Visit IHCDA Official Website

Take action today and begin your path to affordable homeownership with a trusted partner and a program designed to support your success!