Hoosier Homes
Indiana Homebuyer Assistance Program
Indiana Homebuyer Assistance Program
Down Payment Assistance + Affordable Mortgage Loans
Hoosier Homes is a homebuyer assistance program in Indiana, designed to facilitate homeownership by offering financial support and affordable mortgage options. In partnership with Club 720, Hoosier Homes streamlines the eligibility and application processes, making homeownership more accessible to a diverse range of individuals and families.
Program Benefits
- Down Payment and Closing Cost Assistance: Eligible homebuyers can receive up to 5% assistance, reducing the initial financial burden of purchasing a home.
- Affordable Mortgage Options: The program offers 30-year fixed-rate mortgage loans with competitive interest rates, ensuring predictable and manageable monthly payments.
- Accessibility: Both first-time and repeat homebuyers are welcome to apply, broadening the program's reach within the community.
Eligibility Criteria
- Credit Score: A minimum credit score of 640 is required to qualify for the program.
- Income and Purchase Price Limits: Applicants must meet specific income and purchase price limits, which vary by county and are designed to assist low to moderate-income individuals and families.
- Homebuyer Education: First-time homebuyers are required to complete a homebuyer education course to ensure they are well-prepared for homeownership responsibilities. Courses are often available through the program or partnering organizations.
- Property Location: The property must be located in one of the approved jurisdictions, including but not limited to Marion County, Steuben County, LaGrange County, DeKalb County, Kosciusko County, the City of Wabash, the City of Fort Wayne, and the City of Gary.
Club 720 Application Process
- Eligibility Check: Prospective homebuyers can download the free Club 720 mobile app or visit their website to assess eligibility for the Hoosier Homes program. www.club720.org
- Pre-Approval: After confirming eligibility, applicants can work with participating lenders to obtain pre-approval for a mortgage loan.
- Home Purchase: With pre-approval and education completed, buyers can proceed to select and purchase a home within the approved areas, utilizing the down payment assistance and affordable mortgage options provided by Hoosier Homes.
Find Funding For Your Future
Unlock your financial potential with Club 720, your all-in-one platform for down payment assistance, credit building resources, wealth-building education, and financial empowerment.
Download the free Club 720 mobile app to check your eligibility for Hoosier Homes and other programs available for Indiana homebuyers.
