If you are eligible for an FHA 1. Know if you qualify (and why that matters) Many programs for first-time homebuyers, which typically means people who have not owned a home in the last three years, and/or to purchase in a targeted area. Indiana’s statewide programs (administered by IHCDA) offer down-payment assistance (DPA) and special loan options for qualifying buyers — these can materially reduce how much cash you need at closing. Check income and purchase-price limits ear