Indiana

Down payment assistance for Indiana

One program listed below can help with the cost of buying a home in Indiana, and it can sit inside a riba-free structure.

Get started

Indiana Housing and Community Development Authority

To help homebuyers achieve the goal of homeownership, the Indiana Housing and Community Development Authority offers a couple of programs available in the entire state. Intended to complement state-provisioned mortgage programs, these are meant to cover down payment and closing costs.

Learn more about the program here

Requirements

FICO score of at least 640 for 45% or lower DTI, 680 for DTI of 50% or lower.

Total household income limits based on country, with an annual max of $159,200.

Must occupy property as primary residence within 60 days from closing

Must complete certified homeownership course

DPA Products under the IHCDA

First Step Program

Designed for first-time homebuyers
Get between 5% to 6% of the property's purchase price as a zero-interest deferred loan
Must pay a non-refundable reservation fee of $250 to secure the program

Next Home Program

Not limited to first-time homebuyers
Offers between 2.5% and 3.5% of the purchase price as a zero-interest deferred loan

Available programs

Features of Sharia-compliant programs

Through partnerships with investors, ijaraCDC offers a diverse list of programs that will fit the needs of any Muslim home buyer.

No Credit Program

Get a home even without established credit history.

Low Credit Program

Low credit score? No problem!

VA Program

Take advantage of VA housing offers for veterans.

Down Payment Assistance

Get up to 3.5% grant for your down payment.

USDA 100% Financing

100% financing for homes in USDA-designated areas.

Physician Program

Helping residents reside in their forever homes the sharia way.

Frequently asked questions

Indiana down payment questions

Our team answers by phone or email during business hours, and confirms what is available where you are buying.

Is down payment assistance available in Indiana?

Yes. The program listed above can help with the cost of buying in Indiana, and ijara CDC can pair it with a riba-free structure.

Can DPA be used with Sharia-compliant financing?

Yes. The assistance covers your contribution to the co-ownership, and the agreement itself stays free of riba.

How much can I receive?

It depends on the program and your household income. Contact us for the current position where you are buying.

How long does pre-qualification take?

About ten minutes, and it does not affect your credit.

What can I finance in Indiana?

Residential and commercial property, plus residential and auto conversions from an existing riba-bearing loan.