City of Fort Wayne Homebuyer Down Payment Assistance Program

What is City of Fort Wayne Homebuyer Down Payment Assistance Program?

City of Fort Wayne Homebuyer Down Payment Assistance Program is a forgivable loan for homebuyers in Fort Wayne, Indiana, administered by City of Fort Wayne Office of Housing and Neighborhood Services (administered with Pathfinder Services).

• Through a partnership between the City of Fort Wayne's Office of Housing and Neighborhood Services and Pathfinder Services, this program provides forgivable loans of up to $8,000 to help homebuyers with down payment, closing, and pre-paid costs on homes within Fort Wayne city limits. The assistance is funded with federal HUD dollars provided to the city. Twenty percent of the loan is forgiven for each full year of residency, with the loan fully forgiven after five years.
• Up to $8,000 forgivable loan for down payment, closing and pre-paid costs.
• 20% forgiven per year, fully forgiven after 5 years.
• No monthly payments.
• Funding comes from U.S. Department of Housing and Urban Development (HUD) funds to the City of Fort Wayne.

How much assistance does it provide?

City of Fort Wayne Homebuyer Down Payment Assistance Program offers up to $8,000 in assistance.

• Buyer contribution: Homebuyer must contribute at least $1,000 toward the purchase of the home.
• The program can be combined with Used alongside a primary mortgage from the buyer's chosen lender.
• Amounts are the program's published maximums, not an offer — City of Fort Wayne Office of Housing and Neighborhood Services (administered with Pathfinder Services) determines any individual award.

Do you have to pay it back?

City of Fort Wayne Homebuyer Down Payment Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Pro-rated repayment if the buyer stops occupying the home as primary residence or fails to maintain homeowner's insurance before the 5-year forgiveness period ends.
• The assistance is recorded in Subordinate (forgivable second lien) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Fort Wayne Homebuyer Down Payment Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

City of Fort Wayne Homebuyer Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income up to 80% of area median income (AMI). (City has cited an example 4-person limit; confirm current HUD figure with the city.).
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of Fort Wayne Homebuyer Down Payment Assistance Program can be used for Single Family.

Where does it apply?

City of Fort Wayne Homebuyer Down Payment Assistance Program serves buyers purchasing in Fort Wayne, Indiana.

• Targeted neighborhoods: Fort Wayne city limits.

How do you apply?

Applications for City of Fort Wayne Homebuyer Down Payment Assistance Program go through City of Fort Wayne Office of Housing and Neighborhood Services (administered with Pathfinder Services), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through City/Pathfinder-approved home-buyer education course required..

2. 2

   Contact City of Fort Wayne Office of Housing and Neighborhood Services (administered with Pathfinder Services) to reserve funds

   Funds are reserved through Pre-screening by City staff; online application via Pathfinder Services, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.