IHCDA Homeownership Newsletter - April 2019

Homeownership

IHCDA's Homeownership newsletter is designed to bring information and attention to programs, department updates, activities, webinar trainings and new processes for our participating lenders.

Freddy Mac

Introducing Next Home Advantage

The Next Home Advantage program is a Freddie Mac, conventional program that provides the opportunity for first-time and non-first-time homebuyers the ability to receive a 3% down payment assistance component with the potential for an additional subsidy plus the potential for a Mortgage Credit Certificate (MCC). The four (4) Next Home Advantage Programs are;

  • Next Home Advantage
  • Next Home Advantage-MCC
  • Next Home Advantage–Subsidy
  • Next Home Advantage-MCC-Subsidy

Please join Freddie Mac, US Bank Home Mortgage and IHCDA on Thursday, April 25th at 2:00 PM EST to learn all about this new program opportunity! Registration is required to attend. For registration to the Freddie Mac Next Home Advantage webinar, please click here. Once registered, you will receive a confirmation email with log-in credentials. Credentials should not be shared as your access link is unique to your registration only and cannot be used by others.

Interest Rates Have Changed

Program interest rate changes occur often. Please visit IHCDA Online to review current program interest rates.

DMS

Webinar Training Schedule

Resources

  • IHCDA’s Homeownership Website: Contains all program information for homebuyers, lenders, and real estate agents.
  • Framework: IHCDA strongly recommends all first-time homebuyers complete a form of homebuyer education prior to starting their home buying process. Framework is an online course, offered through IHCDA, which is designed to prepare homebuyers for the complexities of buying a house and the responsibilities of owning one. The $75 fee is returned to the borrower at closing.
  • IHCDA Online: This is our reservation system where lenders review their loan pipelines, review the IHCDA interest rate sheet, reserve new loans and upload application and/or closing packages for compliance review.

Read, Listen, Watch

  • Read: Buying a Home: The Missing Manual by Nancy Conner is a step-by-step guide, covering all aspects of the home buying process. From choosing the right home for you down to financing options and inspections, this book might help ease a first-time homebuyer as well as alleviate some of the intimidation and mystery that many face and feel.
  • Listen: Mortgage Mom Radio is a mortgage and real estate advice podcast designed to help all who are navigating the real estate, home buying, and mortgage process.
  • Watch: Subscribe to IHCDA’s YouTube Channel for the ability to check out Homeownership’s playlist options of “Borrowers” and “Lenders”
Carla

Contact me with ideas, comments, or questions:

Carla Bruce, Homeownership Underwriter/Recovery Specialist at cbruce1@ihcda.in.gov or 317.233.1826. If your agency has a new staff member who wishes to receive this newsletter, please email homeownership@ihcda.in.gov.