Down Payment Assistance Myths – Don’t Let These Misconceptions Hold You Back

Many buyers assume they need 20% down to buy a home, but that’s simply not true! Unfortunately, myths about down payment assistance often prevent people from even considering homeownership. Let’s set the record straight.

❌ Myth 1: Only low-income buyers qualify.
✔️ Truth: Many programs serve moderate-income buyers with stable jobs. Each program has different income limits based on location.

❌ Myth 2: It’s only for first-time homebuyers.
✔️ Truth: Some programs, like IHDA’s Access Repayable or Indiana’s Next Home, are open to repeat buyers.

❌ Myth 3: Using assistance makes your offer weaker.
✔️ Truth: Many lenders and sellers recognize these programs and see them as a benefit, not a drawback.

❌ Myth 4: It’s hard to qualify.
✔️ Truth: If you meet basic income and credit requirements, many programs are easy to apply for.

Don’t let outdated myths stop you from exploring your options. Talk to a real estate agent or lender to see what assistance you qualify for—you might be surprised!