SPECIAL OFFERS!
Buyers' Incentive Wouldn't it be great if the house you wanted to buy came with extra money? It could.
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INHP Mortgage Options
With hundreds of loan products available on the market today, it can be difficult to know which loan is right for you. Let INHP do the legwork for you. Our experienced loan officers will sort through the clutter, identify the products that are the best match for you, and show you a range of choices that will suit your unique needs.
We offer referral to our lender partners in the traditional banking industry, our own in-house lending products, and even loans to help you rehab or repair your home--and best of all, as a trusted nonprofit, we offer our guidance every step of the way.
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Loan Originator! |
INHP offers lending options for:
If you are interested in meeting with an INHP Loan Officer to discuss loan product options, click here to register and submit a request. We will be in touch with you shortly.
Home Purchase or Refinance Options
INHP loan products are available in specific areas of Marion county. Click here to view INHP's lending-area map.
INHP referrals to lender-partner products are not geographically restricted.
Fixed-Rate Conventional Mortgage
- Refinance or First mortgage loan for home purchases, maximum term 30 years
- Fixed rate
- 580 minimum credit score
- No private mortgage insurance (PMI) required and no prepayment penalty
- Borrow up to 97% of the lesser of the appraised value or sale price (3% down payment)
- No maximum Combined Loan to Value Ratio (CLTV)
- Down payment assistance may be available for qualified applicants
- May include property rehabilitation costs
- May roll in up to $3,000 in medical collections or judgements
- Must be an owner-occupied property in Marion County
- No minimum loan amount
Home Improvement and Home Repair
Essential Repair Loan
Accessibility Deferred Loan
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First or second mortgage for modifications to make a home more accessible for individuals with disabilities
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No monthly payment required
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Loan is forgiven after 15 years of continuous occupancy
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No Credit Score requirement
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May be used in conjunction with other funds
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Owner-Occupied properties located in Marion County only
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Finance charge of $350.00 due at closing (paid out of loan proceeds)
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Annual percentage rate of .125%
Home Improvement Loan
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First or second mortgage for improvements or repairs to owner-occupied homes
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Affordable fixed-interest rate
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Loans up to $15,000
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No credit score requirement
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Terms up to 10 years
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Owner-Occupied properties located in Marion County only
SPECIAL OFFERS
INHP Buyers' Incentive Program
Wouldn't it be great if the house you wanted to buy came with extra money for landscaping, fencing, outdoor lighting--even a security system? It could.
Through INHP's Buyers' Incentive Program, certain properties purchased in Indianapolis qualify for an extra $4,000 the buyer can use for great exterior enhancements. The program is a no-interest, deferred-payment loan that is forgiven within the first five years of ownership of the property.
Participating community development organizations have special properties that qualify for INHP's Buyers' Incentive Program!
These great properties are either brand-new or like new and already come with a special Buyers' Incentive Program for qualified buyers that provides the buyer with $4,000 for exterior enhancements--like fencing, landscaping, outdoor lighting, a security system, etc.
The Hero Next Door Program
INHP introduces an exclusive program for law enforcement officers and firefighters who wish to purchase homes that were acquired and are being rehabbed or rebuilt through the neighborhood stabilization program (NSP) in Indianapolis.
The special-offer program is called the "Hero Next Door" program. Qualified buyers receive these benefits:
- Special lower interest rate
- $2,000 for appliances, window treatments, lawn mowers and other items new homeowners often need.
- Up to 97% financing
- No origination fee
- No private mortgage insurance
- Priority processing
- Access to no-cost credit repair
- Down-payment assistance available
For more information on these loan programs and guidelines, contact:
Janai Roberts
jroberts@inhp.org
317.610.4625
For more information on available properties and locations, contact the participating community development organizations:
Indy-East Asset Development
Englewood
Mapleton Fall-Creek
Near North
Southeast Neighborhood Development