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Habitat for Humanity of Madison County Homeownership Program

Habitat for Humanity of Madison County · Anderson, Indiana

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Income limit

80% AMI

Of area median income; varies by county and household size

What is Habitat for Humanity of Madison County Homeownership Program?

Habitat for Humanity of Madison County Homeownership Program is down payment assistance for homebuyers in Anderson, Indiana, administered by Habitat for Humanity of Madison County.

  • Habitat for Humanity of Madison County builds and sells affordable homes to qualifying low-income partner families in Madison County, Indiana, financed with a 0% interest mortgage and a monthly payment set at roughly 25% of gross monthly income (incl. taxes/insurance). Selection is based on housing need, ability to pay, and willingness to partner (200 sweat-equity hours plus homebuyer education). Operates as a Special Purpose Credit Program with periodic open application windows.
  • 0% interest mortgage.
  • Payment ~25-30% of household income.
  • Financial education & budgeting classes.
  • Sweat-equity partnership.
  • Low $500 minimum down payment.
  • Funding comes from Nonprofit (donations, ReStore proceeds, volunteer labor, revolving mortgage fund).

Do you have to pay it back?

Habitat for Humanity of Madison County Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of Madison County.

  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Habitat for Humanity of Madison County Homeownership Program is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Habitat for Humanity of Madison County (financial education / first-time homebuyer classes)
  • Residency: Must live where Habitat is working (Madison County, IN)
  • Citizenship or immigration status: U.S. citizen or permanent resident
  • DRAFT (dpa-gap-finder 2026-06-15): pending review. In-person applications only during open windows (most recent Mar 10-28, 2025; affiliate maintains an interest list). Must show housing need and inability to obtain conventional financing, steady income within guidelines, current on accounts, no unpaid liens/judgments, no bankruptcy in last 2 years, no foreclosure in last 5 years. Background/credit/sex-offender screening; $25 fee per applicant; 15-18 months groundbreaking to closing. Not confirmed (left blank): lien position, recapture provision, assistance amount, min credit score, mortgage term, resale/shared-appreciation terms.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Habitat for Humanity of Madison County Homeownership Program limits household income to 80% of the area median income, which varies by county and household size.

  • Income must fall between 30% and 80% AMI by family size (affiliate guidelines): 1p $14,050-$37,450; 2p $17,420-$42,800; 3p $21,960-$48,150; 4p $26,500-$53,450; 5p $31,040-$57,750; 6p $35,580-$62,050; 7p $40,120-$66,300; 8p $44,100-$70,600. Updated annually.
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 8.
  • 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?

Habitat for Humanity of Madison County Homeownership Program can be used for Single Family.

  • New construction is eligible.

Where does it apply?

Habitat for Humanity of Madison County Homeownership Program serves buyers purchasing in Anderson, Indiana.

How do you apply?

Applications for Habitat for Humanity of Madison County Homeownership Program go through Habitat for Humanity of Madison County, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Habitat for Humanity of Madison County (financial education / first-time homebuyer classes).

  2. Contact Habitat for Humanity of Madison County to reserve funds

    Funds are reserved with the provider and are subject to availability.

  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.

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