Hoosier Homes Guide
How Much Money Do I Need to Bring to Closing?
Hoosier Homes requires $0 borrower contribution toward the down payment — the program is built to shrink cash-to-close, not force a minimum check from your savings.
Hoosier Homes requires $0 borrower contribution toward the down payment — the program is built to shrink cash-to-close, not force a minimum check from your savings.
Unlike some loan products that demand a minimum personal contribution, Hoosier Homes does not require you to bring your own funds toward the down payment. The 4% or 5% second loan is the assistance layer that covers that gap.
That does not mean every file closes with a blank cashier’s check. Prepaid items, escrows, title fees, and first-mortgage costs can still leave a cash-to-close figure after assistance is applied. The point of the program is to minimize — and often eliminate — that figure for buyers who qualify.
Ryan and Steve run a full cash-to-close estimate with Hoosier Homes stacked before you shop, so you know whether you need zero, a few hundred, or a shortfall plan (seller credit, gift, or another DPA path).
Assistance removes the mandatory down-payment check — these items still drive the final number.
Higher prices mean larger first mortgages — and larger 4% / 5% assistance — but also larger prepaid and fee lines that may not all be covered.
FHA, VA, USDA, and HFA conventional each have different fee and funding-fee structures that change what assistance needs to absorb.
Negotiated seller concessions and documented gift funds can zero out remaining cash after Hoosier Homes is applied.
Property taxes, insurance, and prepaid interest due at closing can create a cash need even when down payment is fully covered.
If payment shock is over 100% or you live rent-free, 2 months of reserves are required. Gift funds cannot meet this reserve. If rent is not clearly shown on bank statements, a VOR may be required.
| Step | What we do |
|---|---|
| 1. Screen eligibility | County, credit, income, loan type, and property |
| 2. Size assistance | 4% standard or 5% Plus based on address |
| 3. Stack costs | Down payment, fees, prepaids, and credits |
| 4. Deliver cash-to-close | Clear estimate before you write an offer |
Related cash, assistance, and pairing guides.
No cash back from assistance — refunds only for excess personal funds.
4% vs 5% examples by first mortgage amount.
Second-lien structure with monthly forgiveness.
FHA, VA, USDA, and HFA conventional pairings.
What happens if you exit early.
Full eligibility, counties, and cash rules.
Compare Hoosier Homes with other DPA programs.
Ryan & Steve will stack Hoosier Homes on your first mortgage and show what — if anything — you need to bring to closing.
Program guidelines, income limits, and Targeted Area maps change. This page is educational — final eligibility is confirmed when your file is underwritten against current Hoosier Homes rules. This website is not directly affiliated with or endorsed by any government agency.