Welcome to Hoosier Homes!
Multiple Loan Options | Great Low Rates
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 6 percent assistance for down payment and closing costs, plus a loan with a competitive interest rate.
Minimum FICO credit score of 620
Maximum income of $114,240 (Marion County), $100,660 (Fort Wayne)
Must meet income and purchase price limits for your 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)
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
Eligible Borrowers Get 1% More
US Military Personnel & Veterans
An additional 1% assistance is available to K-12 teachers, first responders, U.S. military personnel, veterans and Very Low Income (VLI)) Borrowers, defined as a borrower making 50% or less of the area median income (AMI) for that specific county*. For Hoosier Homes, 50% of AMI is:
Marion County: $40,800
Fort Wayne (Allen County): $39,950
*FY 2021 Income Limits Summary as mandated by HUD https://www.huduser.gov/portal/datasets/il/il2021/2021summary.odn, using a 4-person family in this example.
Jurisdictions not listed above may inquire about joining the program by visiting our Resource page.