Indianapolis Down Payment Help Beyond IHCDA Programs

IHCDA gets most of the attention when people search for down payment help in Indiana. It is a state program, and it works well for plenty of buyers. If you live in Marion County, a few local and nonprofit options sit next to it.

I checked each one on its own website on November 9, 2026. Where a program was closed for the year or its page did not give a number, I say so. If you are still at the start of your plan, begin with my first-time home buyer guide for Indianapolis and come back here when you are ready to price your cash to close.

The short version: INHP is the local program I could confirm is open this year, and its assistance only comes with an INHP mortgage. Habitat for Humanity is a different path that trades 200 hours of work for an affordable mortgage. The two FHLBank Indianapolis programs are closed for 2026.

Down payment help in Indianapolis, side by side

This table covers the programs I could confirm from their own pages. Every figure links to its source below the table.

INHP down payment assistance

The Indianapolis Neighborhood Housing Partnership, or INHP, is the local program I could confirm. Its page says: "INHP's DPA funds are only available with an INHP mortgage loan." DPA stands for down payment assistance.

INHP does not print a dollar amount. The page says eligible clients "may be eligible for thousands of dollars in down payment assistance (DPA) funds," subject to "program eligibility, income certification and availability of funding." It also does not say whether the money is a grant or a loan. Other sites quote specific amounts for INHP. I did not use them because INHP itself does not publish one. Ask the INHP lending team for the amount and the terms in writing before you plan around it.

Income limits. INHP's page links the assistance to a chart based on "HUD Median Income Limits for Marion County 2026," effective June 1, 2026. The chart I read shows the household income you must stay under:

INHP's loan page adds that additional income restrictions apply and that its loans are limited to Marion County. Treat the chart as the first filter. INHP's lending team confirms where you land.

The loan that comes with it. On its loan details page INHP lists a 1 to 3 percent down payment, no mortgage insurance, a minimum 620 credit score and a 30/43 housing and debt-to-income ratio. The 30/43 figure means your housing payment can be up to 30 percent of your income and all your monthly debts up to 43 percent. The same page says the assistance may be used for closing costs and additional down payment.

Education. INHP's assistance page does not list a required class. Its classes page says the $75-per-household homebuyer education course, in person or online, "unlocks exclusive loan options." I would take it before you apply.

Can you combine INHP with IHCDA?

I could not find a line that says yes. Two rules point in different directions.

• IHCDA's side: its program guide says IHCDA "allows layering with other assistance programs" if the other program's guidelines are met, U.S. Bank stays in first position, the IHCDA assistance stays in second position and any extra funding that needs a lien takes third position. Read it in the IHCDA Homeownership Program Guide.
• INHP's side: its assistance is only available with an INHP mortgage, and an IHCDA loan comes through a participating IHCDA lender. Those are two different first mortgages.

So the safe answer is to ask INHP and an IHCDA lender the same question before you choose a path. For the IHCDA side, my First Step vs Next Home comparison covers the amounts and repayment terms, and my post on how much down payment you need in Indiana shows how low down payments work in the full cash picture.

Habitat for Humanity of Greater Indianapolis

Habitat does not give down payment assistance. Its homebuyer page describes accepted applicants who "purchase an affordable mortgage with the responsibility of an affordable interest, monthly mortgage payments, and home maintenance." The FAQ on Habitat's site says homebuyers "complete 200 partnership hours including homeownership classes through Habitat University, construction on their home and the houses of other future Habitat homeowners."

The page lists these basic requirements:

• U.S. citizen or permanent resident
• Lived or worked in the Greater Indy Habitat service area for the past 12 months
• A counseling session with a HUD-certified housing counselor
• Two years of verifiable income and the ability to repay the mortgage
• 12 months of stable rental history
• The home will be your primary residence

Habitat's 2026 income chart lists a minimum and a maximum by family size. For one person it runs from $30,920 to $61,840. For four people it runs from $44,120 to $88,240. Habitat serves Hamilton, Hancock, Hendricks, Marion and Shelby counties. The page offers a "Start Your Application" button and an interest form, and I could not tell from the page whether a window is open today. Call 317.921.2121 to ask.

FHLBank Indianapolis programs are closed for 2026

The Federal Home Loan Bank of Indianapolis runs two down payment programs through its member banks and credit unions. You never apply to the Bank itself. Both rounds are closed this year.

• Launch: up to $20,000 for down payment, closing and housing counseling costs, for first-time buyers at or below 80% of area median income. The page says "Launch funds are currently exhausted."
• HomeBoost: for buyers who are both first-generation and first-time, at or below 120% of area median income. The page says "The 2026 round is now closed."

Launch is described as an annual program. If your bank is a member, ask your loan officer in the new year whether they take part and when the next round opens. I could not find a published date, so I will not guess one.

What I did not find

I looked for a down payment program run by the City of Indianapolis for individual buyers and did not find one I could confirm for 2026. Lenders and employers sometimes offer their own grants or credits. I found no current Marion County offer with published terms, so I left them out. Ask your lender at pre-approval what they offer today.

How I would use this list

• Find out where your household income lands on INHP's chart and on IHCDA's county limits. My post on how much income you need to buy a house in Indianapolis helps with that math.
• Ask for the same house priced two ways, with and without assistance. Compare the monthly payment, the cash to close and any balance you owe when you sell.
• Set your comfortable monthly payment before you chase assistance. My post on setting your budget before you get pre-approved walks through it.
• Remember that assistance is one tool. You can also ask the seller to cover some costs, which I cover in what a first-time buyer can ask for in Indianapolis.

If you want a second set of eyes on your numbers, take the Quiz Insight and we will start from where you are.

Sources I read

• INHP down payment assistance page, read November 9, 2026.
• INHP loan details and INHP classes, read November 9, 2026.
• IHCDA Homeownership Program Guide, layering with other assistance programs section.
• Greater Indy Habitat for Humanity, Become a Homebuyer and Homebuyers FAQ, read November 9, 2026.
• FHLBank Indianapolis Launch and HomeBoost, read November 9, 2026.