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Indianapolis Homes For Sale

Avon, Plainfield, Brownsburg, Greenwood, Fishers, Zionsville, Carmel

By Indy KW Real Estate | Agent in Avon, IN

Do You Qualify? The Next Home Program Is Back...Find Details Here!

Next Home IS BACK

The Next Home Program is back and is available to homebuyers who may not have the equity to purchase their next home. Next Home provides the buyers with their down payment for their next home purchase.

A brief description of the program qualifications are as follows:

4% loan given to the borrower(s) to be used towards down payment, closing costs, pre-paids, etc.

The 4% loan is forgiven if the borrower resides in the residence for two years and meets all other program requirements
Minimum 650 credit scores

125% of Median Income limits in non-targeted areas and 140% in targeted areas

No acquisition or purchase price limitation

FHA loans only

Underwritten to FHA guidelines

.0.125% of the total loan amount as a reservation fee paid to Indiana Housing upfront

Borrower does not have to be a first time homebuyer

No third party inspections or Home Ownership training unless borrower is first time homebuyer
Interest rate is presently 4.50% but may change based on fluctuations in the market Not every lender is participating in this program. For more details - Click Here

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