With home prices continuing to stay steady or rising, the forever present hurdle to homeownership — saving up for a downpayment — keeps many would-be homeowners re-signing lease agreements. 

Unlike the 2020-2022 homebuying market, rates are not what is making homeownership easier for buyers today. Instead, downpayment and homebuyer assistance has gained traction and is helping many become homebuyers in today’s market. Lenders and government agencies have doubled down on providing downpayment assistance to help provide more opportunities for homeownership.

Key Mortgage has always been a top lender in Illinois, leveraging the Illinois Housing Development Authority (IHDA) Downpayment Assistance Programs to help homeowners achieve their dreams. While there are several other options available to your buyers based on income and location, we are very excited to provide homebuyers in Indiana assistance through the Indiana Housing and Community Development Authority (IHCDA). Here are just a few of the highlights:

• 2.5%, 3.5% and 6% of the purchase price can be used for downpayment and closing costs utilizing a zero interest rate second mortgage

• Can finance using Conventional or FHA Financing

• Must be a first-time homebuyer as defined by not having been in title to a primary residence for the previous 3 years

• Generous Qualifying Income and purchase price limits

Now you may read this and think, “I don’t sell homes in Indiana, why does this matter to me?” What it does is highlight that Key Mortgage is the place homebuyers can go to have a suite of downpayment assistance options available to them, wherever they may be looking to call home. 

Think about how you can partner with a Key Mortgage loan officer to help make the dream of homeownership come true for those who may not have thought it was possible.