Indiana Housing Next Home Program

By
Real Estate Agent with Keller Williams Indy Metro NE

I had the opportunity to be educated on the IHCDA's (Indiana Housing Community & Development Authority) new program entitled "Next Home" this morning.  In a nutshell it is a program that allows move up buyers to recapture some of the equity they may be losing (or lost) when selling their previous home.  Some of the program features are:

  • Up to 4% Down Payment Assistance (DPA) to non first time (as well as first time who don't qualify for the First Home/Plus program) buyers on an FHA loan
  • Higher income limits based on total household income
  • Can be combined with MCC (limited to first time buyers only)
  • DPA is FULLY FORGIVEN AFTER 2 YEARS!
  • No interest or monthly payments on the DPA
There are a few other criteria that must be met, but most of those align with the FHA requirements.  I have several clients I have already brought this program to their attention to get moving forward with!  

 

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Rainmaker
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Kim Dove
Watson Realty Corp - Jacksonville, FL
Realtor - Jacksonville FL

Nate, that sounds like a wonderful program. We could certainly benefit from this program in Florida.

August 30, 2011 01:04 PM #1
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Rainer
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Nate Gustus

Fishers Residential Specialist
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