What special options or services are available to first-time homebuyers?
Many options and programs are available for first-time homebuyers, depending upon the need for assistance. Indiana Housing Finance Authority (IHFA) offers First Home and First Home Plus programs. Both enable a buyer to receive down-payment assistance, depending on the number of people residing in the home and the income. The traditional Mortgage Revenue Bond program also has income and maximum cost acquisition guidelines that are available through IHFA. To be eligible, you don’t have to be a first-time homebuyer—but you cannot have owned a home in the past three years. The program is open to any homebuyer that meets the other income and acquisition guidelines. IHFA can provide you with a list of lender participants—they can be reached at 317-232-7777, or through their Web site, www.indianahousing.org or by phone at (800) 872-0371. Many other programs are available, such as the Down-payment Assistance Programs (DAP) offered through many nonprofit organizations. In addition to national l
