Your real Indiana affordability, the IHCDA First Step Down Payment Assistance match, and a step-by-step plan — in 30 seconds. No email required.
Calculate your Indiana number — free →The IHCDA First Step Down Payment Assistance is Indiana's flagship statewide down payment assistance, administered by the Indiana Housing and Community Development Authority (IHCDA) as a forgivable second mortgage worth 5% of your purchase price. Current amounts, income limits and credit requirements are set by the agency — confirm them on the official program page. Cities and counties in Indiana often add their own programs on top.
Official Indiana program page →Indiana's main statewide option is the IHCDA First Step Down Payment Assistance — forgivable second mortgage administered by the Indiana Housing and Community Development Authority (IHCDA), providing 5% of your purchase price as a forgivable second mortgage. Many cities and counties in Indiana add their own programs on top, so it is worth checking all three levels.
It depends on your income, debts and credit. The calculator applies the FHA 31%/43% debt-to-income rule to estimate your price, then shows how much of your down-payment gap Indiana assistance could cover. Most buyers pair it with a 3% conventional or 3.5% FHA down payment.
Many state programs set a 620 minimum credit score alongside income limits based on area median income. Exact requirements are set by the agency — verify current terms on the official IHCDA First Step Down Payment Assistance page before applying.