IHCDA.IN.GOV Indiana Home Buyers Down Payment Assistance, Low Interest Rate, Mortgage Tax Credit Programs Available to those who qualify
Recently, our Local REALTOR Association hosted a 2 hour presentation by
The Indiana Housing and Community Development Authority
“It Makes Cents: State Programs to Make the Dream of Home-ownership a Reality.”
The seminar covered topics such as below market interest rate programs, down payment assistance to first time and move up buyers, first time buyer tax credits for Indiana Home Buyers.
There are Income Limits based on Household Size AND on the Indiana County you plan to buy in.
Here is the Chart that shows the maximum Home Price Per IN County and differing income limits depending on number of persons in the household(1 to 8)for 2011-2012 years.
Jasper County in Northwest Indiana extends these state programs to ANY buyer, the rest NW Indiana counties of Lake, Porter & La Porte, Newton only 1st time home buyers may qualify.
These 3 separate programs cannot be co-mingled and buyer must use a participating lender.
FIRST HOME -
offers low interest rates only
FIRST HOME / PLUS -
offers down payment assistance
Mortgage Credit Certificate -
offers % of annual Mortgage interest expense as a FEDERAL TAX CREDIT (not a deduction)
an online education program for Hoosier Home Buyers using any of the above programs is required to complete .
If we can be of service to you in the purchase of your 1st Northwest Indiana Home - give us a call!