Hoosier Homes Guide
Can I Use Hoosier Homes for an Investment Property or Second Home?
No — Hoosier Homes requires the property to be your primary residence. Investment properties are not eligible.
No — Hoosier Homes requires the property to be your primary residence. Investment properties are not eligible.
Hoosier Homes cannot be used for investment properties. The program requires you to occupy the home as your primary residence.
This requirement is built into the forgiveness structure: the second mortgage is forgiven over 7 years only while you remain in the home as your primary residence. If the home is no longer your primary residence, the remaining unforgiven balance becomes due.
If you are purchasing an investment property, ask your lender about other financing options such as DSCR loans or conventional investor programs.
Hoosier Homes cannot be used for investment properties. The program requires you to occupy the home as your primary residence.
This requirement is built into the forgiveness structure: the second mortgage is forgiven over 7 years only while you remain in the home as your primary residence. If the home is no longer your primary residence, the remaining unforgiven balance becomes due.
If you are purchasing an investment property, ask your lender about other financing options such as DSCR loans or conventional investor programs.