Forgivable loan
Homebound Downpayment Assistance Program
First-time homebuyers · Income limits · Single-family detached (existing or new construction)
Down payment assistance · Lake County
Buying a home in Hammond, IN
1 Hammond program, 1 county program and 8 statewide.Hammond has 1 program of its own, 1 more across Lake County, and 8 statewide. Here is what each one offers, what the local market looks like, and who near you can walk you through it.
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Only for Hammond addresses
Hammond’s own program
Anywhere in LakeAnywhere in Lake County
1 county program1 county program a Hammond homebuyer can also use
3 more programs are for homes in Gary and East Chicago. See them 3 programs in neighboring cities — for homes inside those cities, not Hammond
- Gary — City of Gary First-Time Homebuyer Down Payment Assistance (Homeownership Opportunity Network)
- Gary — Habitat for Humanity of Northwest Indiana Homeownership Program
- East Chicago — Home Ownership Program
The Hammond marketThe Hammond housing market
Kinds of homes hereWhat’s for sale here, and what the programs accept
Kinds of homes in Hammond
- 72.8% single-familysingle-family
- 3.8% townhousetownhouse
- 9.1% 2–4 units2–4 units
- 13.4% 5+ unitscondo & apartment buildings (5+ units)
- 1% mobile & othermobile home & other
About condos. None of Hammond’s 2 local and county programs list condos as eligible. Homebound Downpayment Assistance Program lists single-family detached (existing or new construction). Lake County Homebuyers Assistance Program lists single family.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25024.
When Hammond’s homes were built
pre-19401970s2020+
88.5%
of Hammond homes were built before 1980. Pre-1978 homes come with a federal lead-paint disclosure.of homes were built before 1980. A home built before 1978 comes with a federal lead-paint disclosure, and some programs require an inspection.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25034.
$100,900
County area median income, 4 people (HUD)HUD area median income, Lake County, 4-person household (2026)
$55,504
Hammond median household incomeMedian household income in Hammond (Census, 2024)
14 of the 72 programs here set their income limit as a share of Lake County’s area median income, adjusted for household size. See the published limits for Lake County
Free help nearbyFree help near Hammond
12 HUD-approved counseling agencies within 15 miles12 HUD-approved housing counseling agencies within 15 miles
Hammond’s program asks for a homebuyer class first. Create a free account to see who’s near you and pick one.Homebound Downpayment Assistance Program asks for a homebuyer class. A HUD-approved counselor teaches it and can walk you through your options. Create a free account to see who’s near you and pick one.
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Across Indiana and nationwide
70 statewide & federal programs8 statewide programs, plus federal options
Hammond questions
Does Hammond have its own down payment program?
Yes, one: Homebound Downpayment Assistance Program, a forgivable loan for first-time homebuyers (forgiven over 5 yrs, income limits). It is for homes inside Hammond.
Can I use assistance on a condo in Hammond?
None of Hammond’s 2 local and county programs list condos as eligible. Homebound Downpayment Assistance Program lists single-family detached (existing or new construction). Lake County Homebuyers Assistance Program lists single family. Each program’s page lists the kinds of homes it accepts, and the agency confirms it for the home you choose.
What is the income limit in Lake County?
Each program sets its own. 14 of the programs here set theirs as a share of HUD’s area median income for Lake County, adjusted for household size. HUD publishes the median each year; the 2026 figure is shown above and on the published limits page.
Where can I take a homebuyer class near Hammond?
HUD-approved housing counseling agencies teach homebuyer classes, and 12 agencies are within 15 miles of Hammond. Create a free account and take the 90-second match to see the ones near you.
ZIP codes
46320 · 46323 · 46324 · 46325 · 46327
Nearby in Lake
Sources
Sources: agency sites (June–August 2026), Census ACS 2024 5-year, HUD FY2026, HUD counseling list. Hey Prescott is not a lender.Programs: Hey Prescott catalog of 2,000+ programs, each verified with its agency (June–August 2026). Market: U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Income: HUD FY2026 income limits. Counselors: HUD list of approved housing counseling agencies. Hey Prescott is not a lender.