Become a Homeowner

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.

Download the Homeowner Assistance Application
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.

2017 Annual Gross Income Limits

Income limits apply to Lafayette/Tippecanoe County Only

Household Size Gross Income
1 Person $35,000
2 Persons $40,000
3 Persons $45,000
4 Persons $50,000
5 Persons $54,000
6 Persons $58,000
7 Persons $62,000
8 Persons $66,000
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.