Down payment assistance program launching in northeast Indiana
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Officials in northeast Indiana are launching a program designed to make buying a home in the region more affordable and accessible.
The Northeast Indiana Regional Partnership on Tuesday unveiled Hoosier Homes Plus, a down payment assistance program, at an open house event for the Legacy Heights housing development in Wabash.
The program is being launched with an initial, but undisclosed, investment from the Northeast Indiana Strategic Development Commission and is being made available to first-time and repeat homebuyers across the region.
Andrew Briggs, board member of both the SDC and the Northeast Indiana Regional Development Authority, said in a news release that the program is a win-win for communities and families.
“We believe strong communities start with strong households,” Andrew Briggs, “Our region has been pursuing innovative strategies to build homes in underserved communities with Legacy Heights serving as a key example. Hoosier Homes Plus is yet another innovation that allows us to incentivize home-ownership from the buyer-side as well.”
The regional partnership did not respond multiple requests for an interview from Inside INdiana Business at deadline Wednesday.
Hoosier Homes Plus is designed to provide financial support and flexibility, especially for people interested in buying homes in new communities such as Legacy Heights. According to the program’s website, eligible homebuyers can receive up to 5% down payment assistance on a new home, as well as aid on closing costs.
The program is being administered through Fort Wayne-based Club 720, which has developed an app to help people access financial tools and resources. Club 720 has provided similar programs for Adams County and Valparaiso.
“We’re excited to bring these tools together through Club 720 to support buyers in real time,” said Club 720 Development Corp. CEO Heather Presley-Cowen. “This is how we bridge the gap and bring more individuals and families home to help our communities increase population while their residents increase wealth.”
You can learn more about the Hoosier Homes Plus program by clicking here.