Key Benefits of the Indiana First Step Program

• 5% Down Payment Assistance: Eligible Indiana first-time homebuyers may receive 5% down payment assistance to help reduce upfront homebuying costs.
• 30-Year Fixed Mortgage: Enjoy predictable monthly principal and interest payments throughout the life of your loan.
• FHA & Conventional Financing: Available with eligible FHA and Conventional loan programs through participating lenders.
• Statewide Availability: Eligible properties throughout Indiana may qualify.
• Competitive Interest Rates: Mortgage rates are established through IHCDA participating lenders.

Indiana First Step Program Eligibility

• First-Time Homebuyer: Generally available to qualified first-time homebuyers. Certain targeted areas may allow additional eligibility.
• Primary Residence: The home must be owner-occupied as your principal residence.
• Income Limits Apply: Household income must fall within current IHCDA guidelines.
• Purchase Price Limits: The property must meet current acquisition cost limits.
• Participating Lender Required: Financing must be obtained through an approved IHCDA participating lender.
• Credit & Underwriting: Borrowers must satisfy applicable credit, income, and underwriting guidelines.
• Homebuyer Education: Completion of an approved homebuyer education course may be required.

Eligible Loan Programs

• FHA Loans: Available for qualified Indiana first-time homebuyers seeking flexible qualification requirements.
• Conventional Loans: Available for borrowers meeting Conventional underwriting guidelines.
• 30-Year Fixed Rate: All Indiana First Step Program loans feature fixed interest rates for stable monthly payments.

Eligible Indiana Properties

• Primary Residences Only: The home must be occupied by the borrower.
• Single-Family Homes
• Townhomes
• Condominiums
• Eligible Manufactured Homes: Subject to program and lender guidelines.
• Located in Indiana: Homes must be located within the state of Indiana.

Indiana Income & Purchase Price Limits

The Indiana First Step Program includes household income and home purchase price limits that vary by county and household size. These limits are established by IHCDA and are updated periodically.

Your Advisors Mortgage Loan Officer can review the most current Indiana program guidelines and determine your eligibility before you begin shopping for a home.

Application Process

• Get Pre-Approved: Meet with an Advisors Mortgage Loan Officer to discuss the Indiana First Step Program and your financing options.
• Verify Eligibility: We'll review income, purchase price, and other IHCDA program requirements.
• Complete Homebuyer Education: If required, complete the approved education course.
• Choose an Eligible Indiana Home: Select a qualifying property located within Indiana.
• Close on Your Mortgage: Complete your financing and receive available 5% down payment assistance at closing.

Why Choose Advisors Mortgage?

• Indiana Program Expertise: We understand Indiana homebuyer assistance programs and can help determine whether the Indiana First Step Program is right for you.
• Multiple Financing Options: We offer FHA, Conventional, VA, USDA, and other mortgage solutions.
• Personalized Guidance: From pre-approval through closing, our experienced mortgage professionals are with you every step of the way.
• Responsive Service: We pride ourselves on clear communication and exceptional customer service throughout your homebuying journey.

Take the First Step Toward Indiana Homeownership

If you're purchasing your first home in Indiana, the Indiana First Step Program may help make homeownership more affordable with 5% down payment assistance and a competitive fixed-rate mortgage.

Contact Advisors Mortgage today or call 317-497-3933 x 798 to learn more about the Indiana First Step Program or begin your online application today.

Not Sure Which Indiana Homebuyer Program Is Right for You?

If you're not sure whether the Indiana First Step Program is the best fit, you may also want to explore the Indiana Next Home Program. Unlike First Step, Next Home is available to many eligible repeat homebuyers and offers 2.5% to 3.5% down payment assistance with FHA and Conventional financing. Our mortgage advisors can help you compare both programs and determine which one best fits your homeownership goals.