The Indiana Housing & Community Development Authority is waiving the program’s first-time time homebuyer requirement just for veterans. This will allow them to secure a fixed rate mortgage that is BELOW the market interest rate on ANY home they purchase (not only their first home). However, Veterans who are first-time homebuyers may also qualify for down payment assistance through this program. IHCDA works with qualified lenders on its homeownership programs.
"The State of Indiana owes its veterans a large debt of gratitude for their leadership and sacrifice for our country and state. This new program is one way that Governor Daniels and I can show our appreciation for Hoosier veterans."
- Lt. Governor Becky Skillman
For more information about this program or to visit a list of lenders in your county go to http://www.indianahousing.org/homebuyers.aspx To find out the current rate IHCDA is offering, call (888) 227-4453.This rate line is available 24 hours a day, seven days a week.
Below is Freddie Mac data that supports that is a good time to Buy vs Rentdue to the historically low interest rates.