A Statewide Program for Homebuyers Provides Borrower Assistance!

******In response to inquiries received by our team, it is well known that the mortgage markets have been in rapid decline since the beginning of the year. The unprecedented mixture of factors including the war in Ukraine, high inflation, and the Feds response has impacted investor participation in the mortgage-backed securities market. This in turn has affected our capacity to offer all levels of down payment assistance (DPA) products in our program. This situation is not unique to us, as other DPA programs are experiencing the same circumstances. These conditions can rapidly change. We encourage you to keep an eye on our offerings (DPA options will continue to be available depending on the market). We are hopeful current conditions will subside and we apologize for any inconvenience this may cause. We appreciate your understanding and patience as we work through these challenging times.******

Hoosier Homes is an Indiana Program that helps low and moderate-income individuals and families buy a home in approved areas of Indiana. Qualified homebuyers receive up to a percentage of assistance for down payment and closing costs, plus a loan with a competitive interest rate.

About the program

BENEFITS

3, 4 or 5% in down payment assistance and closing costs
An additional 1% for eligible borrowers
30-year fixed rate mortgage loans: FHA and Conventional loans
Multiple funding options available
Competitive rates

QUALIFICATIONS

Minimum FICO credit score of 620
Maximum income based on jurisdiction
Must meet purchase price limits per jurisdiction
Debt to Income ratio up to 50%
Must occupy the home as principal residence within 60 days of closing
Complete homebuyer education (if required)
Must purchase one of the following types of homes: single family detached, townhome or condominium
Must be a new purchase (no refinancing)

*This program continues to expand into new communities throughout Indiana. Get the latest information about where it's available on the Club 720® mobile app.

To check your eligibility and get started with Hoosier Homes downpayment assistance, download the free Club 720® mobile app available on the Apple App Store or Google Play Store.