Become a Homeowner

If you would like to be considered for this program, please contact Lori Walters or call 765-448-1986 and leave a message.

Qualifications

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.

2021 Income Limits

Income limits apply to Lafayette/Tippecanoe County Only

Household Size

Gross Income

1 person

$40,450

2 persons

$46,200

3 persons

$52,000

4 persons

$57,750

5 persons

$62,400

6 persons

$67,000

7 persons

$71,650

8 persons

$76,250


Homeownership Process

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


Equal Housing Opportunity

We commit to providing an equal housing opportunity for every applicant.

Read more about Equal Housing Opportunities.