Short answerStart with a monthly budget and a preapproval, then look at FHA, USDA, VA, and low down payment conventional loans along with IHCDA down payment assistance. Older homes are common here, so inspection and appraisal matter. Generally you count as a first time buyer if you have not owned a home in the past three years.
Your first five moves
- Set a monthly budget with the monthly cost calculator.
- Get preapproved; see preapproval vs prequalification.
- Check IHCDA down payment assistance.
- Decide on representation; see do I need an agent.
- Learn what inspections find on the age of homes you like.
Loan options worth asking about
FHA, USDA for eligible rural areas, VA for eligible veterans, and conventional programs with 3% down.
Local context
Older homes are common across Southern Indiana. In Jackson County, for example, 55% of homes sold in the last year were built before 1978, so expect older systems and plan a repair reserve. See prices by county.
Frequently asked questions
Who counts as a first time home buyer?
Many programs use no ownership of a primary home in the last three years. Check each program's definition.
What is the easiest loan for a first time buyer?
It depends on credit, savings, and location. Many local first time buyers use FHA or USDA.
Keep reading
Looking at a house and not sure what you are getting into?
Ask for a free Before You Offer review. Send me the listing. I look over the photos, the seller's disclosure, and recent sales, then flag likely condition issues and planning cost ranges before you write an offer.
Request a Before You Offer reviewOr call or text (812) 525-5489, or email john@yourpropertynegotiator.com.
The Before You Offer review is a REALTOR® and contractor review of the listing, not a home inspection. It is for buyers who are not already working with an agent. If you have an agent, please bring these questions to your agent.
Sources
- IHCDA homebuyer programs
- Jackson County MLS closings, November 2025 to September 2026 (CRS export from MIBOR BLC)
Written by John Long, REALTOR®, 1 Percent Lists Indiana Real Estate. Working contractor who has priced hundreds of home inspection repair requests. Former labor relations negotiator for a major manufacturer and U.S. Coast Guard veteran.
John Long, REALTOR® · 1 Percent Lists Indiana Real Estate · (812) 525-5489 · yourpropertynegotiator.com
This page is general information, not a substitute for a professional home inspection, and not legal, tax, insurance, or lending advice. Ask a real estate attorney about contracts and disclosure, a CPA about taxes, your lender about loan rules, and a licensed inspector or tradesperson about your house. Nothing here guarantees a sale price, net proceeds, repair cost, payment, timeline, appraisal, inspection result, or loan approval. Cost figures are planning estimates, not bids. I own Wardmark Property Operations LLC, a contracting company. You are always free to use any contractor you choose.