Make homeownership possible with Down Payment Assistance

Check Down Payment Assistance Programs in Indiana

Complete the short questionnaire above to determine if you are eligible for a down payment assistance program offering in the State of Indiana. A loan professional at Diamond Residential Mortgage Corporation will review the information you submit and guide you to the best loan solution.

Top Down Payment Assistance Programs in Indiana

After you select the best option for you, fill out our questionnaire, and let our loan professionals guide you through the process from start to finish.

With a Indiana Housing and Community Development Program (IHCDA) home loan, you can choose between the FIRST STEP (FS), NEXT HOME (NH) or the STEP DOWN (SD) programs.

Since we are an Approved-Lender with the Indiana Housing and Community Development Program (IHCDA), we are able to offer the following down payment assistance programs throughout the state of Indiana. Below you will find more details on the IHCDA programs offered:

FIRST STEP (FS)

  • Down Payment Assistance (DPA) of 6.0%
  • Based on the purchase price, Not to exceed the appraised value
  • Must be a first-time homebuyer, unless:
    • The subject property is located in a qualified census tract or targeted area
  • FHA or Conventional 30-year fixed-rate loan
  • Minimum FICO credit score of 640 with a DTI of less than 45.00%
  • Minimum FICO credit score of 680 with DTI greater than 45.00%, but less than 50.00%
Start Questionnaire

NEXT HOME (NH)

  • Down Payment Assistance (DPA) of 3.50%
    • Based on the purchase price
    • Not to exceed the appraised value
  • Can be combined with the Step Down (SD)
  • FHA or Conventional 30-year fixed-rate loan
  • Minimum FICO credit score of 640 with a debt-to-income ratio of less than 45%
  • Minimum FICO credit score of 680 with debt-to-income ratio greater than 45%, but less than 50%
Start Questionnaire

STEP DOWN (SD)

  • Rate Only Purchase Option
  • FHA or Conventional 30-year fixed loan
  • Can be combined with the Next Home Program
  • $250 Reservation Fee
  • Must be a first-time homebuyer, unless: The subject property is located in a qualified census tract or targeted area
Start Questionnaire

In addition to the statewide programs listed above, we may have additional city and county programs available. Please complete the form above so a loan professional can help guide you to the best available option.