Aurora is a historic river town that is situated 35 miles west of Cincinnati, Ohio, located in the Southeast corner of Indiana. Aurora was settled in the early 1800's and incorporated in 1845 and has strong historic connections to the Ohio River. Aurora is full of unique and historic buildings that preserve its older rivercity characteristics.
Aurora Housing Options
Indiana Housing & Community Development Authority
At IHCDA, we believe that growing Indiana's economy starts at home. Everyone can agree that all Hoosiers should have the opportunity to live in safe, affordable, good-quality housing in economically stable communities. That's the heart of IHCDA's mission. Our charge is to help communities build upon their assets to create places with ready access to opportunities, goods, and services. We also promote, finance, and support a broad range of housing solutions, from temporary shelters to homeownership.
IHCDA's work is done in partnership with developers, lenders, investors, and nonprofit organizations that use our financing to serve low- and moderate-income Hoosiers. We leverage government and private funds to invest in financially sound, well-designed projects that will benefit communities for many years to come. And our investments bear outstanding returns. The activities that we finance help families become more stable, put down roots, and climb the economic ladder. In turn, communities grow and prosper, broadening their tax base, creating new jobs, and maximizing local resources. IHCDA's work is truly a vehicle for economic growth, and it all starts at home.
Next Home Program
Next Home Program offers prospective homeowners who do not qualify as first-time homebuyer’s, Down Payment Assistance (DPA) of 3% of the total loan for conventional loans, or 4% DPA for Federal Housing Administration (FHA) Loans. Under Next Home, there are no purchase price limits which allows more Hoosiers to qualify for this great program. For current interest rates, please contact a Participating Lender.
Blight Elimination Program
Blighted, vacant and abandoned homes are a serious issue for Indiana homeowners, neighborhoods and communities. Sadly, the State of Indiana has the dubious distinction of having the highest percentage of abandoned foreclosed homes in the country. Roughly 30% of Indiana’s foreclosed homes are abandoned. This means that due to foreclosure alone, 5,000 blighted and abandoned homes are negatively impacting Indiana homeowners and neighborhoods by reducing property values. Blighted properties also serve as a drain on municipal resources and communities lack the resources necessary to address this growing issue alone.
The U.S. Department of the Treasury established the Housing Finance Agency Innovation Fund for the Hardest-Hit Markets (Hardest Hit Fund) to provide financial assistance to families in the states most impacted by the downturn of the housing market. Indiana was awarded more than $221 million under this fund and is targeting low-to-moderate-income homeowners whose primary residence is in any county in Indiana. The IHCDA, is exploring the use of a portion of the Hardest Hit Funds to demolish blighted and abandoned homes that are beyond repair. The goal is not simply to demolish abandoned homes, but to stabilize property values in Indiana communities. This would allow communities to demolish blighted properties and offer a variety of end uses for the newly cleared properties including green space and redevelopment.
To learn more about qualifications and availability of funds for this program contact: