If you would like to be considered as a homeowner in this program, please download and fill out the application through the link below. You may request a hard copy of the pre-screening application by contacting Lori Walters.
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
|
Household Size |
Gross Income |
|
1 person |
$42,500 |
|
2 persons |
$48,600 |
|
3 persons |
$54,650 |
|
4 persons |
$60,700 |
|
5 persons |
$65,600 |
|
6 persons |
$70,450 |
|
7 persons |
$75,300 |
|
8 persons |
$80,150 |
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
We commit to providing an equal housing opportunity for every applicant.
Read more about Equal Housing Opportunities.