The Affordable Home homeownership program through the Indiana Housing & Community Development Authority offers first time home buyers a chance to get an FHA loan at an interest rate below the market rate. They do need to have their own down payment use an approved FHA source though. Still, for many this is a great option.
If interested in buying a home using the Affordable Home program, keep in mind that the loan has to be originated through an IHCDA Participating Lender. Unless purchasing a home in a targeted area, which can change, the buyer must be considered a first-time home buyer. This programs only works with FHA homes, so the home must be in a condition suitable for an FHA loan.
Some household income limits apply. Some acquisition limits apply too. Your credit score has to be at least 660.
The lender can only charge one percent origination fees plus an addition $1,000 in junk fees, even if the seller pays the fees. A rider gets attached to the first mortgage. One big consideration is that this can’t be combined with the MCC program, so be sure to factor in long term benefits of the MCC program compared to the benefits of the Affordable Home program when deciding what to do.
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Are You Ready to Buy a New Home?
If you’re interested in moving to a community near Evansville or Jasper, Indiana, check out our listings. Become familiar with the area. Before you start shopping for a home in Indiana, it’s a good idea to explore areas you might like to live in — that way you can get a feel for what properties are available and how much you’ll need to spend. We’ll help you find homes for sale in the most beautiful parts of Indiana.
Let us know if you want us to be on the lookout for Evansville or Dubois County homes with solar arrays, geothermal systems or other green upgrades too!
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Thinking of Selling Your Dubois County Home?
On the other hand, if you’d like to sell your Dubois County real estate, we’d love to help with that too! We offer a completely FREE Comparative Market Analysis (CMA). Zillow’s zestimates can be off by as much as 12 percent! Obviously, to make any decisions, you need to know the actual value of your property, right? A 12 percent difference could be a deal breaker when it comes down to it. Yet, if you contact us today, we can get you a detailed report and the estimated value for your home based on today’s market. Plus, we can get that to you usually in less than one day. So, request your FREE home valuation for your Dubois County home today!