IHCDA First Place Program

### Program Overview

### IHCDA First Place Program

An upgrade to the First Home Program, **First Place** provides enhanced down payment support and below-market interest rates. It is only available to qualified first-time buyers meeting income and purchase price limits.

**Program Highlights:**
- Greater DPA than base First Home Program
- Ideal for low-asset households
- Homebuyer education is mandatory

**Who Should Use This Program?**
- First-time homebuyers looking for affordability
- Low- to moderate-income families
- Residents seeking long-term housing stability

**What You Need to Know**
- Program eligibility varies by income and location
- You may be required to complete a homebuyer course
- Assistance may be structured as a grant or loan

**Next Steps**
1. Review eligibility requirements and program benefits
2. Contact a participating lender or city agency
3. Gather financial documents and prepare to apply
4. Complete homebuyer counseling if needed
5. Finalize your loan and receive program benefits

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### 🔍 Key Features
- Tailored to Indiana homebuyers
- Access to financial assistance
- Available through approved lenders statewide

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### 👤 Who Is This Program For?
This program is ideal for:
- First-time or repeat homebuyers in Indiana
- Households with limited income or savings
- Buyers seeking predictable monthly mortgage payments
- Individuals needing help with upfront costs like down payments or closing fees

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### 📌 What Sets It Apart?
- Competitive interest rates and loan terms
- Potential combination with federal or local incentives
- Emphasis on sustainable homeownership and financial stability
- Support from certified housing counselors

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### 📝 How to Get Started
1. Visit the [official program website](#) or contact an approved IHCDA lender.
2. Gather documentation (proof of income, credit report, home purchase agreement, etc.).
3. Complete a required homebuyer education course if applicable.
4. Submit your application and await approval.
5. Close on your new home and enjoy the benefits of homeownership.

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- Must be a **first-time homebuyer**.
- Must meet IHCDA-established **income and purchase price limits**.
- Must occupy the home as a **primary residence**.
- Must work with a **qualified IHCDA lender** and complete a homebuyer education program.

- Enhanced DPA for eligible first-time buyers
- Low interest rates and reduced cash-to-close
- Compatible with other IHCDA benefits
- Helps first-time buyers establish equity

1. Apply through an IHCDA First Place lender
2. Complete homebuyer education
3. Submit application and required paperwork
4. Receive approval and close the loan