Discover Your Path to Affordable Homeownership
Our comprehensive grant and loan programs are designed to empower buyers, making that dream home more accessible than ever. Whether you’re seeking down payment assistance or closing cost relief, our programs – along with our team of genuinely helpful, local lenders – are here for you.
Community Grants
Homeownership Opportunities Program (HOP)
HOP is a grant to help qualified first-time homebuyers with down payment, closing and housing counseling cost assistance. Up to $20,000 per household may be requested. Funds are available on a first-come, first served basis, and the funding is announced each spring. Click here to learn more.
HomeBoost Down Payment Assistance Program
HomeBoost is a special purpose credit program that provides up to $25,000 in assistance for down payment and closing and counseling costs to minority and first-generation first-time homebuyers purchasing a home in Indiana or Michigan. Click here to learn more.
Neighborhood Impact Program (NIP)
Homeowners that meet the program requirements can receive up to $15,000 in funding through the NIP to make eligible repairs and accessibility modifications to their homes. Funds are available on a first-come, first served basis, and the funding is announced each spring. Click here to learn more.
“It feels so good to now have something that I own and that my kids will hopefully benefit from down the road. This is something that I’ve always wanted to do and have worked for. Without the grant, I would have had to put more money down and it would have led to a hardship in my finances. I just cannot say enough good things about ... how the grant made this homeownership dream a reality.” - Kendra
Affordable Loan Options
HomeReady Loan Program (low down payment)
HomeReady is a loan program that caters to both first-time and current homeowners. To qualify for the mortgage as a first-time home buyer, you must complete an online course provided by Fannie Mae. The course gives a breakdown of the entire home buying process in great detail, and once completed you are awarded a certificate of completion. It is a unique conventional loan that only requires a minimum down payment of 3.00% versus the traditional 5.00%*. To qualify, borrowers must be within 80% of the area’s median income. Access a median income lookup tool at ami-lookup-tool.fanniemae.com.
CommunityMAX Loan Program (100% financing)
CommunityMAX is a 100% financing program that allows a borrower to loan up to the entire purchase price of the home they are buying. In this scenario, there are two mortgages that you are promising to repay: the primary mortgage for the home and a secondary mortgage for the 3.5% down payment. Each mortgage has separate terms and rates. This eases the burden of producing a down payment, and only requires the borrower to cover closing costs and prepaid items. There are no income limits on this product and you do not have to be a first-time home buyer, but the property does have to be eligible for Federal Housing Administration financing.
Contact us today to learn more about each program!
This is not an offer for extension of credit or a commitment to lend. All loans must satisfy bank underwriting guidelines. Contact Community First Bank of Indiana for more information regarding mortgage products and your eligibility. *3% cash required from buyer