My Home Conventional Program

My Home Conventional Program My Home Conventional provides fixed rate conventional loans to qualified home buyers (there is no first time buyer requirement). Eligible candidates must meet income limits and purchase a single family home. First time home buyers must make a Indiana down payment of 3 percent of the purchase price or appraised value (whichever is less). The program can be combined with the MCC program, but no Indiana down payment assistance is available.

Next Home Program

Next Home Program This Indiana down payment program Home buyers can receive Indiana down payment assistance of 3 percent (conventional) or 4 percent (FHA) for loans originated through IHCDA participating lenders. The program does not have purchase price limits. Home buyers must have a minimum credit score of 650. The Indiana down payment assistance has zero interest and no monthly payments, and the assistance is forgiven after two years. Indiana borrowers can combine this program with a MCC.