COMMUNITY LIFT
Homebuyers who are ready to make an impactful investment in certain Marion County neighborhoods will find favorable terms with Community Lift.
LOAN DETAILS
Community Lift was purposely built to help people avoid some of the top reasons for mortgage denial.
| Features | 80% AMI | 81-120% AMI |
|---|---|---|
| 15- to 30-year terms | ||
| 100% financing* | ||
| $500 minimum cash at closing | ||
| Minimum 580 credit score Scores between 580-679 will require proof of positive 12-month rental history | ||
| No PMI | ||
| Requires successful completion of INHP's Homebuyer Education course | ||
| Property must be located in a low- or moderate-income census tract in Marion County, Indiana |
WHAT IS AMI?
AMI stands for area median income. Program eligibility is based in part by total household income, and you can find the 80% AMI income limits linked here.
Other income and eligibility restrictions apply. Speak to an INHP staff member to check full eligibility.
WHERE CAN I BUY?
For 81-120% AMI buyers, Community Lift may only be used in certain Marion County census tracts. To verify a home's eligibility, locate it on the map linked here.
Once located, click Census Demographic Data. If "Tract Income Level" contains Low or Moderate, the property will qualify.
Click to view an example map search.
*Estimated loan terms are based on a $200,000 purchase price, $200,000 loan amount (or 0% down), 5.586% interest rate (5.842% APR), $1,146.39 monthly principal and interest payment for 360 months. Rates and terms are subject to change without notice. A 580 minimum credit score and other qualification criteria required.
READY TO BEGIN?
