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Homeownership Assistance Program (Community Homebuyers Corporation)

Community Homebuyers Corporation (CHC), in partnership with the City of South Bend · South Bend, Indiana

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See what you qualify forOfficial program site →
Assistance

20%

Of the purchase price, as the program sets it

Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$175,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 5 years

What is Homeownership Assistance Program (Community Homebuyers Corporation)?

Homeownership Assistance Program (Community Homebuyers Corporation) is a forgivable loan for homebuyers in South Bend, Indiana, administered by Community Homebuyers Corporation (CHC), in partnership with the City of South Bend.

  • Community Homebuyers Corporation, a nonprofit created by the City of South Bend and seven local financial institutions, helps first-time buyers purchase within South Bend city limits. Qualified buyers receive a CHC mortgage plus a federally funded grant structured as a forgivable second mortgage equal to 20% of the purchase price, forgiven ratably over five years. Income must be at/below 80% AMI, the purchase price cannot exceed $175,000, and buyers must have at least $2,000 in cash savings.
  • Forgivable grant equal to 20% of purchase price.
  • 0% second mortgage forgiven over 5 years.
  • Affordable CHC first mortgage.
  • Free HUD-certified counseling and post-purchase support.
  • Serves South Bend first-time buyers.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from Federal HOME funds provided to CHC by the City of South Bend; seven local financial institutions partner on the program.

How much assistance does it provide?

Homeownership Assistance Program (Community Homebuyers Corporation) provides assistance worth 20% of the purchase price, as set by the program.

  • The program asks buyers to contribute $2,000 minimum cash savings.
  • Amounts are the program's published maximums, not an offer — Community Homebuyers Corporation (CHC), in partnership with the City of South Bend determines any individual award.

Do you have to pay it back?

Homeownership Assistance Program (Community Homebuyers Corporation) is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • The assistance is recorded in Second position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Homeownership Assistance Program (Community Homebuyers Corporation) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Exceptions: owns a mobile home; displaced by legal situation; relocated to the area; not owned a home in 3 years; or foreclosure with extenuating circumstances.
  • The home is occupied as a primary residence
  • On credit: Determined via CHC mortgage application and HUD-approved counseling.
  • A completed homebuyer education course, through One-on-one HUD-approved pre-purchase counseling plus six post-purchase training sessions with the City of South Bend Housing Counseling Agency.
  • Residency: Owner-occupied single-family unit (condos eligible) within South Bend city limits.
  • DRAFT (dpa-gap-finder 2026-06-10): pending review. No signed purchase agreement at application; minimum $2,000 cash savings; pre-purchase counseling plus on-time payments and post-purchase sessions; live in home 5 years for full forgiveness; max price $175,000; CHC inspection required. UNCONFIRMED: exact assistance dollar min/max, min credit score, max DTI.

The program excludes

  • Manufactured homes
  • Purchases above the $175,000 price cap
  • 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?

Homeownership Assistance Program (Community Homebuyers Corporation) limits household income to 80% of the area median income, which varies by county and household size.

  • Household income may not exceed 80% of area median income adjusted for household size (CHC 2025 income eligibility chart).
  • 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?

Homeownership Assistance Program (Community Homebuyers Corporation) caps the purchase price at $175,000.

  • Eligible property types include Single-family and Condominium.
  • Manufactured homes are not eligible.

Where does it apply?

Homeownership Assistance Program (Community Homebuyers Corporation) is a federal program, so it is not limited to Indiana.

  • The program targets specific areas: Geographically limited to within the city limits of South Bend.

How do you apply?

Applications for Homeownership Assistance Program (Community Homebuyers Corporation) go through Community Homebuyers Corporation (CHC), in partnership with the City of South Bend, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through One-on-one HUD-approved pre-purchase counseling plus six post-purchase training sessions with the City of South Bend Housing Counseling Agency..

  2. Contact Community Homebuyers Corporation (CHC), in partnership with the City of South Bend to reserve funds

    Funds are reserved through Direct application to CHC (no signed purchase agreement allowed at application)., 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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