IHCDA Helping to Own (H2O) Program

### Program Overview

### IHCDA Helping to Own (H2O) Program

The **H2O Program** supports qualified FHA buyers with **down payment assistance equivalent to 3.5%** of the purchase price, helping cover the standard FHA requirement. This makes the homeownership journey more achievable for buyers without substantial upfront cash.

**What Makes It Different:**
- Works exclusively with FHA loans
- Provides exactly the amount needed for FHA minimum down payment
- Available through select lenders statewide

**Who Should Consider H2O?**
- First-time buyers needing help with the down payment
- FHA-qualified buyers who meet income and property guidelines
- Families wanting to move from renting to owning affordably

**Key Features:**
- Affordable rates
- Support for homeownership
- Available statewide

**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 **income** and **purchase price limits**.
- Must qualify for an **FHA loan**.
- Must use an approved IHCDA lender.

- Provides up to **3.5% DPA**, enough to cover the FHA down payment.
- Works in tandem with FHA loan requirements.
- May be **forgivable or deferred** depending on terms.

1. Apply through a lender offering the H2O Program.
2. Provide documentation for income, assets, and FHA approval.
3. Complete any required homebuyer education.
4. Finalize your mortgage and receive DPA at closing.