Many families in the Wabash Valley struggle to save enough for a down payment on a home. The tight housing market worsens the struggle, driving up prices on single-family homes and putting them even more out of reach for low- to moderate-income families. For many households, a down payment assistance program can remove a barrier to homebuying, making ownership affordable and possible. 

United Way of the Wabash Valley’s Home Down Payment Assistance Program helps to ease the path to homeownership. It is a joint venture between United Way and partner financial institutions in the Wabash Valley. This program provides eligible applicants up to $4,000 in assistance.

Financial Institutions

The following five participating financial institutions are offering specialized mortgage packages for applicants to consider: 

Eligibility Requirements

There are eight eligibility requirements when applying for the program. They include the following:

1. The entire household size and income must be under the county’s 80% Area Median Income and the applicant must provide proof of income. These limits are established by the federal government.  Click here for the income eligibility table.
2. The applicant must complete approved financial literacy classes prior to closing on the home or provide proof of completing such courses in the last year.
3. Applicants must invest $1,000 of their own funds.
4. Applicant must be a U.S. Citizen or a legal resident with a social security number.
5. Applicant must be able to obtain homeowner’s insurance in an amount equal to/greater than the value of the property for the entire recapture period.
6. Applicant must remain in the home for 5 years or otherwise repay a proratedportion of the funding in accordance with the recapture agreement with UWWV.
7. The purchased home must be the applicant’s primary residence.
8. Applicant’s new residence must be in one of these counties: Clay, Parke, Sullivan, Vermillion,and Vigo Counties in Indiana and Clark County in Illinois.

You can find the eligibility form below and a link to the digital pamphlet containing information about the program. If you have any other questions contact us at (812) 235-6287 or come to our office at 100 S. 7th St, Terre Haute, IN 47807.