FCDC purchases houses, restores them and then partners with any interested community members who make up to 80% of the local median income. The following chart delineates the basis for eligibility.

Income limits apply to Lafayette/Tippecanoe County Only

What FCDC will do for you:

• Provide the house
• Provide a coach who helps your family fill out the HUDrequired application, goes with you to the bank to apply for a mortgage, and strategizes with you to reach the thresholds they need to purchase the home.
• Offer down payment assistance. This down payment is a forgivable loan that is completely forgiven after five years.
• Provide Financial Training & Home Maintenance Training
• Facilitate Homeownership Classes

What the homeowner will do:

• Qualify by income
• Pay a nominal fee to obtain your credit score
• Attend required training: financial training (cost: $20), Homeowners Class ($125) and home maintenance ($20)
• Be able to qualify for a mortgage (but can use the down payment assistance to make that possible)
• Earnest money (down payment) of $1000