For many people, buying a home is a lifelong dream, but the biggest hurdle often isn’t finding the right house—it’s coming up with the money for a down payment. If you’ve been putting off homeownership because you’re worried about the upfront costs, you might be in for a pleasant surprise. There are programs available that can provide significant down payment assistance, helping you get into a home with far less out-of-pocket expense than you might expect.
The Welcome Home Grant: A Helping Hand for Homebuyers
One such program is the BMO Welcome Home Grant, which offers down payment and closing cost assistance to eligible borrowers in specific counties in Indiana. For those who qualify, this program can make all the difference in achieving homeownership.
Eligible borrowers may receive up to $13,000 in down payment assistance, with additional funds available for those purchasing homes in designated low- or moderate-income areas. Depending on the location and qualifications, buyers could receive as much as $31,500 in total assistance when combining multiple programs.
Who Qualifies for These Programs?
These grants are designed to support individuals and families who might otherwise struggle to save for a down payment. Some key eligibility factors include:
- Income level and property location
- Meeting specific race or ethnicity requirements for certain grants
- Being a first-time homebuyer
- Meeting DACA eligibility requirements
Why This Matters for Estate Planning
At Norton Estate Planning & Elder Law, we always encourage smart financial planning for the future—and that includes securing stable housing. Homeownership isn’t just about having a place to live; it’s also about building generational wealth and protecting your family’s financial future.
When you buy a home, it’s important to think about how it fits into your broader estate plan. Who will inherit the property? How will the mortgage be handled if something happens to you? Do you have the right legal documents in place to protect your investment? These are the kinds of questions that an estate planning attorney can help you answer.
Get Started on Your Path to Homeownership—and Protect Your Future
If you’ve been considering buying a home but worried about the financial barriers, now is the time to explore your options. Programs like the BMO Welcome Home Grant can provide the boost you need to make homeownership a reality. And once you have the keys in hand, don’t forget to take the next important step—protecting your home through a solid estate plan. Want to make sure your home and other assets are legally protected for the future? Let’s talk about your estate plan today. Request a consultation with Norton Estate Planning & Elder Law, and let’s make sure your future—and your family’s future—are secure.
