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Hoosier Homes

Statewide, Indiana

Last verified
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Assistance

5%

Of the purchase price, as the program sets it

Income limit

140% AMI

Of area median income; varies by county and household size

Price cap

$300,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 7 years

What is Hoosier Homes?

Hoosier Homes is a forgivable loan for homebuyers in Statewide, Indiana.

  • Hoosier Homes — Statewide Indiana DPA administered by Club 720 in partnership with the Fort Wayne Housing Authority. Up to 5% forgivable 2nd mortgage @ 7-year term, 0% interest. 640 FICO, no FTHB requirement, max ~$300,000 purchase, up to 140% county AMI. Hoosier Homes Plus version offers enhanced amounts in select participating counties.
  • Hoosier Homes (sponsored by the Fort Wayne Housing Authority and administered by Club 720) provides up to 5% of the purchase price as a forgivable 0% interest second mortgage with NO monthly payments. Forgiven over a 7-year term. Open to first-time AND repeat homebuyers in approved Indiana counties. Affordable IHCDA-style first-mortgage options paired through Club 720 lender network. Hoosier Homes Plus enhances the benefit to the full 5% in select participating counties.
  • Funding comes from Federal, HFA, FortWayneHA, and Club720.

How much assistance does it provide?

Hoosier Homes provides assistance worth 5% of the purchase price, as set by the program.

  • Buyer contribution: Per first-mortgage product overlays.
  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Hoosier Homes is forgiven after 7 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by 7-year forgivable and prorated recapture on sale/refi/non-occupancy within 7-year term.
  • The assistance is recorded in 2nd 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?

Hoosier Homes 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
  • On credit: 640 minimum FICO
  • A completed homebuyer education course, through Club 720-approved homebuyer education delivered through the Club 720 platform / mobile app.
  • Residency: Property must be located in an approved Indiana county and used as primary residence
  • Citizenship or immigration status: Per first-mortgage product overlays
  • 640 minimum FICO. Property must be in an approved Indiana county and used as primary residence. Household income up to 140% of county AMI (range ~$60,320-$144,060). Maximum purchase price ~$300,000. Open to first-time and repeat homebuyers. 7-year owner-occupancy required for full forgiveness. Apply via Club 720 mobile app.

The program excludes

  • Manufactured homes
  • Purchases above the $300,000 price cap
  • Households above 140% 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?

Hoosier Homes limits household income to 140% of the area median income, which varies by county and household size.

  • Household income up to 140% of approved Indiana county median (range ~$60,320-$144,060 across counties and household sizes).
  • 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?

Hoosier Homes caps the purchase price at $300,000.

  • Eligible property types include Single-family detached, condominium, townhouse, PUD, 2-unit.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Hoosier Homes serves buyers purchasing in Statewide, Indiana.

  • The program targets specific areas: Hoosier Homes Plus participating counties (e.g., select counties in Fort Wayne / Northeast Indiana, Thrive West Central seven-county region, Gary, Huntington) receive enhanced benefit.

How do you apply?

Applications for Hoosier Homes go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Club 720-approved homebuyer education delivered through the Club 720 platform / mobile app..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Lender reserves through Club 720 lender portal / mobile app, 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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