Home Buying in Indiana>Question Details

Anthony, Home Buyer in Indiana

do you know anything about this program in indiana that gives you 5,000 grant money for home if you stay in?

Asked by Anthony, Indiana Tue Jun 10, 2008

the home for 5yrs.

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Anthony, There are many oppurtunities for grant money and forgiveable down payment assistance as 2nd liens. Most notably, the Indiana Housing Partnership offers help for home improvement loans and grants in conjunction with participating banks. Most of these grants, loans, and assistance are limited in either targeted census tracts, low to moderate income earners, and first time homebuyers. First time homebuyers are normally considered to be individuals that have not had an ownership interest in their primary residence for 3 consecutive years prior. Of course my employer works in conjunction with a lot of these programs. (Fifth Third Mortgage). Some of these grants and forgiveable down payment loans normally mandate that you stay in the home for at least 9 years or you become subject to a recaputre feee, tax, or penalty.

Keep in mind not everyone will qualify and the guidelines can be stringent. Call or email me if you would like to discuss further. The views, opinions, and statements in this reply are my own and are not endorsed by my employer or associated entities.

I hope this helps.
0 votes Thank Flag Link Tue Jun 10, 2008
Without knowing the specific City or County you live in it's hard to know what programs might be available to you and without knowing more about the program you’re referring to it's hard to track it down. I did find a website that might help you out. The URL is http://www.homebuyerfunds.com. I hope this helps to point you in the right direction. Be careful out there. There are thousands of different scams out there that appear to be government grants that actually are scams. Don't reply to any that come to you via email and ask for information and always check resources. Good luck
0 votes Thank Flag Link Tue Jun 10, 2008
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