Indiana Next Program

Indiana Next Program


So What is the Indiana Next Program?

Next Home offers prospective homeowners who do not qualify as first-time homebuyer’s as well as first-time homebuyer's, down payment assistance of 3% or 4%. Under Next Home, there are no purchase price limits which allows more Hoosiers to qualify for this great program. For current interest rates, please contact a Participating Lender.

Details of Next Home include:

  • Down Payment Assistance (DPA) is 4% for Federal Housing Administration (FHA) loans only
  • Down Payment Assistance (DPA) is 3% for Conventional loans only
  • Minimum credit score 650
  • Purchase Price limits is $265,158 (Marion County)
  • Loan must be originated through an IHCDA Participating Lender (Contact us for a list of approved lenders)
  • DPA is fully forgiven after 2 years
  • DPA has zero interest with no monthly payments
  • First time buyers or someone who has not been entitled to real estate in the past 3 years
  • The home must be the borrowers principal residence
  • You will need three years of tax returns
  • Income restrictions do apply: (Marion County)
    • For 1 -2 people max income is $64,300
    • For 3+ people max income is $73,945

So What is the Mortgage Credit Certificate?

The Mortgage Credit Certificate (MCC) program offers qualified Hoosiers a Federal Tax Credit. The tax credit amount ranges between 20% and 35% of the interest paid on a mortgage each year, depending on the mortgage loan amount. The tax credit can be claimed each year, through the life of the mortgage, as long as the home remains the borrowers principal place of residence. The maximum credit per year is $2,000.

The MCC program is for first-time homebuyers only, unless purchasing in a targeted county.


For More Information go to:

Indiana Housing & Community Development Authority

Contact Information

Lisamarie Schmidt
The Atlantis Realty Group
9775 Crosspoint Blvd, Suite 118
Indianapolis IN 46256
Fax: (866) 469-4882