The Homebuyer Assistance Program is designed to assist households with overcoming this hurdle, by assisting with down payment, fees, closing costs, etc. The program helps qualified households with a maximum assistance of $5,000 for closing costs, down payment, and fees.

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Homebuyers Assistance Program

Financial Assistance for Homebuyers in Indiana

Lake County Community Economic Development Department recognized that when it comes to home ownership, one of the biggest hurdles for families are the upfront costs that come with it.

The Homebuyer Assistance Program is designed to assist households with overcoming this hurdle, by assisting with down payment, fees, closing costs, etc. The program helps qualified households—whose income does not exceed the 80% moderate-income limits for the area as established by HUD—with a maximum assistance of $5,000.

The following are the annual income limits for households per person, determined by the HUD for Lake County, Indiana (subject to change):
  • 1 person: $35,850
  • 2 persons: $41,000
  • 3 persons: $46,100
  • 4 persons: $51,200
  • 5 persons: $55,300
  • 6 persons: $59,400
  • 7 persons: $63,500
  • 8+ persons: $67,600
Lake County Community Economic Development Department’s Entitlement Area consists of:

Cedar Lake, Dyer, Crown Point, Griffith, Highland, Hobart, Lake Station, Lowell, Merrillville, Munster, New Chicago, Schneider, Schererville, St. John, Whiting, Winfield, and all unincorporated area in Lake County.

Funding for this program, desitned to afford safe comfortable living condisions for families and to eliminate deterioration of properties and neighborhoods, is made available through grants from the U.S. Department of Housing and Urban Development.

Down Payment Grants in Indiana

This program is provided through the Homeownership Opportunity Network (HON) andassists borrowers by providing HOME program funds in the form of forgivable loans for principal reduction, down payment, and closing costs when purchasing a home.

The Homebuyer Assistance Program is designed to assist households with overcoming this hurdle, by assisting with down payment, fees, closing costs, etc. The program helps qualified households with a maximum assistance of $5,000 for closing costs, down payment, and fees.

The Indiana Housing and Community Development Authority (IHCDA) offer a number of homeownership programs, one of which is Next Home, that provides homebuyers with down payment assistance.