Indianapolis Neighborhood Housing Partnership

AFFORDABLE REHABBED HOMES

For your clients who are interested in living in urban neighborhoods experiencing revitalization, INHP offers two unique loan options for low- to moderate-income individuals who want rehabbed homes at an affordable price.

HOME VALUE GUARANTY

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WHAT IS THE HOME VALUE GUARANTY PROGRAM? 

Home Value Guaranty (HVG) is a program that incentivizes homebuyers to invest in designated areas within five Indianapolis neighborhoods. HVG is designed to create excitement and provide opportunity.

Homebuyers can purchase:

  • A vacant or abandoned home that needs extensive repairs.
  • A new or rehabbed home put on the market by a local community-based organization (CBO) or approved developer.
  • An empty lot for building a home.

The program guarantees that after seven years, the home will appreciate 5 percent above the total cost to purchase and repair it.

The guaranty: If the home’s value doesn’t increase, INHP will reduce the homebuyer’s mortgage.

Click below to download the Home Value Guaranty program brochure.

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REHAB MATCH

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WHAT IS THE REHAB MATCH PROGRAM? 

Rehab Match is a program that rewards homeowners for purchasing a vacant or abandoned home in designated areas within five Indianapolis neighborhoods plus any Renew Indianapolis (a community land bank) property. If the homeowner personally completes INHP-approved repair projects to the home, his/her efforts will be matched up to $15,000.

The program includes a silent second mortgage (lien) for sweat equity match at closing. Each year the silent second is forgiven by 20 percent; after five years, it’s completely forgiven. The home must remain the primary residence of the homeowner for a minimum of five years.

Click below to download the Rehab Match program brochure.

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WHERE ARE THE ELIGIBLE PROPERTIES?

Click on an area in the map to view the eligible property boundaries. Or click to view eligible Renew Indianapolis properties.

WHO DO I CONTACT ABOUT PROPERTIES FOR SALE WITHIN EACH AREA?

MORTGAGE ACCELERATOR

With these programs, your clients can choose a 25- or 20-year finance option that will allow them to pay off their mortgage faster. Details online or ontact INHP for more information.

FREQUENTLY ASKED QUESTIONS

The FAQ fact sheet covers questions from other real estate agents. You can also get your questions answered during a one-on-one training session.

REAL ESTATE AGENT TRAINING

INHP provides training to real estate agents on HVG and Rehab Match. If a homeowner contacts INHP directly and doesn’t have a realtor, they will be given a list of trained real estate agents.*

*The trained real estate agent list is NOT exclusive; it is an always-growing list.

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