Buy & Renovate Loan

Buy and renovate with one loan!

Did you find your dream home – but it needs a little work? With INHP’s Revive Indy program, buy a home now and fix it up after closing! This fixed rate mortgage allows you to finance both the repairs identified in the inspection such as a roof, furnace or electrical issues, as well as other choice upgrades like a new deck, painting or even countertops.

Revive Indy lets you:

  • Buy a “fixer-upper” or bank-owned property needing repair
  • Get funds to both purchase and upgrade your dream home
  • Benefit with more flexibility and control than government rehab programs
  • Save money by doing some of the repairs yourself

Loan Details

  • Buy with as little as 3% down
  • No PMI means lower payments
  • Loan amount based on home value including renovations
  • No minimum loan amount restriction
  • Inspection required
  • Health and safety hazards must be fixed within 180 days of loan closing.
  • Choice upgrades must be made within 180 days of loan closing

Who Qualifies?

  • Credit score of 600 or higher
  • Can finance loans up to $136,800
  • Must qualify for acquisition cost plus cost of the repairs and upgrades
  • Income limits apply
  • Property must be located in Marion County and must be owner’s primary residence

Income and other eligibility restrictions apply. Rates and terms are subject to change without notice