City of Gary Indiana First Time Homebuyer Programs

The Homeownership Opportunity Network(HON) introduced the First Time Homebuyer Program in order to increase homeownership opportunities for individuals in the City of Gary who cannot comfortably afford the upfront costs of purchasing a home.
 
Available Assistance
With the First Time Homebuyer Program, eligible applicants purchasing a home in a Target Area* can receive up to 10% of the purchase price, or $10,000 (whichever is less) as down payment assistance. The actual amount of down payment assistance is determined based on the applicants household income and the area median income (AMI) :
80-70% AMI: up to $4,000 in assistance
69-60% AMI: up to $5,000 in assistance
59-50% AMI: up to $6,000 in assistance

Eligibility Requirements
This program is exclusive to first-time homebuyers (those who have not owned a home in the past three years) who are buying a home in a Target Area. All applicants must successfully complete the City of Gary Homeownership Opportunity Network Homebuyer Education Workshop and Counseling session(s). Certificates of completion are accepted from other HUD-certified and approved agencies, as long as they are dated within 12 calendar months of submitting the application.

Income Limits
1-person household: $40,800
2-person household: $46,600
3-person household: $52,450
4-person household: $58,250
5-person household: $62,950
6-person household: $67,600

*The Gary Target Areas, as declared by the City of Gary Five Year Consolidated Plan, including the following: Aetna, Midtown, University Park, Emerson, and Horace Mann/Downtown West.
 
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.