The IUPUI Anchor Housing program offers down payment assistance to qualified full-time employees interested in buying a home near the IUPUI campus. The program also offers financial assistance to make exterior home repairs to qualified full-time employees who currently own and occupy a home in select neighborhoods around the IUPUI campus.

Here’s how it works: For those who qualify, the program provides a five-year, forgivable loan to purchase or repair the exterior of a home within portions of Near West/River West, Riverside or Ransom Place neighborhoods. Each year, on the anniversary of the month the buyer closed on their loan, 20 percent of the loan balance will be forgiven. After five years, the loan will be completely forgiven. Qualified buyers and homeowners may also be eligible for additional funding through the Indianapolis Neighborhood Housing Partnership (INHP).

This program is facilitated by INHP, with additional funding support from IUPUI.

Interested in participating in IUPUI’s Anchor Housing program? Here’s what you need to know:

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The program is first-come, first-served.

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A limited number of home purchase or home repair forgivable loans are available*.

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Income and eligibility restrictions apply**.

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Homes must be located within the neighborhood boundaries.

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You can participate in the program one time.

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Homebuyers must participate in pre-purchase homeownership advising. Learn about advising and related costs here.

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Unbiased loan officers will help you compare interest rates, and down payment and loan terms. Learn about advising and related costs here.

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Homebuyers must take a homebuyer education class. Learn about the class and related costs here.

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Current homeowners in the approved area could qualify to receive funding for exterior improvements.

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Current homeowners in the approved area could receive assistance from INHP with selecting contractors.

* * Funds are limited and aren’t guaranteed. Depending upon the response and eligibility, funds cannot be guaranteed to be available to all full-time IUPUI employees.

** Income and other eligibility restrictions may apply. Household income must be or below 120 percent of Area Median Income as defined by the U.S. Department of Housing and Urban Development to participate in the program. See the FAQ section below for more information. Rates and terms are subject to change without notice.