Making Purchasing Possible

Down-payment assistance can mean the difference between a family's ability to purchase a home or not. Today, most down-payment assistance is in the form of a non-interest-bearing second mortgage and generally is available to low- and moderate-income families who are first-time home buyers.

There are several sources of down-payment assistance available in Indianapolis, but availability may be limited to certain times of the year or by budget constraints. Many sources of down-payment assistance include charitable organizations and federal, state, and local government.

In Indianapolis down-payment assistance is often provided by the City of Indianapolis through grants from the United States Department of Housing and Urban Development. Other providers include the Federal Home Loan Bank of Indianapolis (through member institutions), and the Indiana Housing and Community Development Authority.

Frequently, INHP distributes down-payment assistance funds for the City of Indianapolis. Families interested in obtaining down-payment assistance funds are encouraged to talk with local banking institutions, realtors, and INHP to determine funding availability and program requirements. Following are Web sites that may be helpful in securing down-payment assistance funding.

US Department of Housing and Urban Development

City of Indianapolis, Department of Metropolitan Development

Federal Home Loan Bank of Indianapolis