Indiana First Step
Indiana Housing and Community Development Authority offers First Step to first-time buyers in Indiana: up to 4% of the price, as a deferred loan.
- Amount
- Up to 4% of the price
- Kind of help
- Deferred loan
- First-time buyers only
- Yes, with exceptions
How is Indiana First Step paid back?
Deferred loan: never forgiven. You repay all of it when you sell, refinance (unless through IHCDA), pay off your main home loan or move out.
A deferred loan costs nothing each month, but the whole amount is due when you sell, refinance or pay off the first mortgage.
Who qualifies for Indiana First Step?
- Set by IHCDA's income and purchase price limits chart (from May 25, 2026).
- First-time buyers only: yes, with exceptions.
- It comes with an FHA or conventional 30-year fixed-rate mortgage.
The exact income limit for your county and household size is on the agency's income chart. Our HUD income limits lookup shows your area's median income.
How to apply for Indiana First Step
- Indiana Housing and Community Development Authority pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Indiana Housing and Community Development Authority's page for First Step, or pick a lender from the agency's list of participating lenders.
Ask a lender about Indiana First Step
Tell us where you're buying and a lender that works with Indiana's programs can tell you whether Indiana First Step fits you, and what you could combine with it.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Indiana
- Indiana Next Home: up to 3.5% of the price, deferred loan.
All Indiana first-time home buyer programs · Down payment assistance in every state