Old National Bank Down Payment Assistance Program (Indiana)

Old National Bank Down Payment Assistance Program (Indiana) is a grant for homebuyers in Indianapolis, Indiana, administered by Old National Bank. The Old National Bank Down Payment Assistance Program is a lender-funded grant that works alongside an ONB HomeReady or Home Manager first mortgage to provide additional help with the down payment. Eligible borrowers can receive up to 3% of the purchase price (maximum $10,000), or up to $15,000 toward the purchase price if the property is within certain communities/specific census tracts. In Indiana, the program is available in Allen and Marion counties. Funds are limited and subject to availability. Up to $10,000 grant (3% of purchase price) toward down payment. Up to $15,000 in certain eligible communities. Pairs with HomeReady or Home Manager mortgage. Home Manager allows as little as 3% down with no PMI. No repayment / not a lien (grant). Funding comes from Old National Bank (lender-funded down payment assistance).

Old National Bank Down Payment Assistance Program (Indiana) offers up to $15,000 in assistance. Homebuyer contribution: Borrowers required to make a minimum contribution from their own funds toward the purchase (Home Manager pairing); all funds verified. The program can be combined with ONB HomeReady or ONB Home Manager first mortgage. Amounts are the program's published maximums, not an offer — Old National Bank determines any individual award.

Old National Bank Down Payment Assistance Program (Indiana) is structured as a grant, so it is not repaid. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Old National Bank Down Payment Assistance Program (Indiana) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through HUD-certified Home Buyer Education Program (required for ONB Home Manager pairing).

Old National Bank Down Payment Assistance Program (Indiana) sets its income limit as follows: Income restrictions apply (varies by program/property; HomeReady income limits apply for HomeReady pairing). Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Old National Bank Down Payment Assistance Program (Indiana) caps the purchase price as follows: Assistance amount varies based on the price and location of the home; specific census tracts and other restrictions apply. Eligible property types include Single Family.

Old National Bank Down Payment Assistance Program (Indiana) serves homebuyers purchasing in Indianapolis, Indiana. The program targets specific areas: Eligible Indiana counties are Allen and Marion; up to $15,000 available when the property is within certain communities/specific census tracts.

Applications for Old National Bank Down Payment Assistance Program (Indiana) go through Old National Bank, which publishes the current terms and the application steps on its own site. Funds are reserved through Funds are limited and subject to availability; contact an ONB Community Development Mortgage Lender. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.