Indiana · Forgivable loan

IHCDA First Step

6% of price — forgivable after 5-7 years

Up to 6% of purchase price as DPA. Offered as a second mortgage with no monthly payments.

IHCDA's First Step program provides DPA for first-time buyers purchasing in Indiana. The program pairs with competitive first mortgage rates and covers down payment and closing costs across all Indiana counties.

Amount6% of price — forgivable after 5-7 years

TypeForgivable loan

Available inIndiana

First-time buyer requiredYes

Minimum credit score640

Multi-unit eligibleYes — 1-4 units

House-hack eligible

6% on a $200K duplex = $12K in DPA. Pair with FHA for multi-unit house hack.

Programs that pair with this

FHA Loan Saves ~$33,000 on a $200K home vs 20% down

Federal · Subsidized loan

VA Loan $0 down + no monthly mortgage insurance

Federal · Federal benefit

NACA Program $0 down + $0 closing + $0 PMI + below-market rate

National · Nonprofit program

IHCDA Next Home 3-4% forgiven in 2 years — repeat buyers OK

Indiana · Forgivable loan

IHCDA Step Down Interest-only payments = lower monthly cost

Indiana · Subsidized loan

IHCDA Mortgage Credit Certificate Annual tax credit + DPA stacking

Indiana · Annual tax credit

All Indiana programs →

Get your free stacking strategy

We'll show you how to combine IHCDA First Step with other programs to maximize your free money — personalized to your ZIP code and income.

Or get matched with a lender who knows this program →

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