Homeownership Programs Available
Down Payment Assistance
CHC - Community Homebuyers Assistance provides a grant in the form of a forgivable second mortgage that allows those who qualify for up to 20% of the home value to be granted and forgiven over time.
IHCDA - Indiana Housing & Community Development Authority operates a number of programs to help people with a credit score of at least 640 who are struggling to build a down payment for their home.
HomeBoost Down Payment Assistance - Offers down payment assistance to first-generation, and minority homebuyers with household incomes below a certain threshold.
Neighborhood Initiatives
Near Northwest Neighborhood
Near Northwest Neighborhood (NNN) - The Near Northwest Neighborhood, Inc. (NNN) is a non-profit community development corporation, whose mission is to revitalize the neighborhood. Some of the NNN’s efforts include the acquisition and rehabilitation of beautiful area homes; available for purchase now!
Other Resources
Intend Indiana: Intend operates a number of initiatives in Indiana. Affordable Home Matters is a program that focuses on buyer assistance as well as development of affordable homes to own.
South Bend Heritage Foundation: Established in 1974, South Bend Heritage Foundation, Inc. (SBH) is a not-for-profit Community Development Corporation (CDC) that is committed to the stabilization and enhancement of neighborhoods.
CDFI Friendly South Bend - Alternative Equity: Helps address the appraisal gap that buyers can run into in St. Joseph County.
STREAMLINED CONSTRUCTION
Pre-Approved Building Plans
To support neighborhood infill and economic opportunities for locals, the City of South Bend is offering a set of pre-approved building types at no cost. This resource assists with small to middle scale housing development in South Bend neighborhoods.
Some financial institutions in Indiana offer special loans that operate as a construction loan until the home is built, then converts to a traditional mortgage while minimizing closing costs.