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Indianapolis Neighborhood Housing Partnership

WHAT TO EXPECT – HOME VALUE GUARANTY

When you submit your contact information via the Get Started button below, an INHP representative will contact you and provide the resources you need to choose a qualifying property and begin the Home Value Guaranty process.

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CHOOSE A PROPERTY

INHP connects you to a real estate agent or neighborhood partner who can help you choose a property in an area that meets program eligibility requirements.

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SECURE YOUR INHP LOANS

The first mortgage finances the purchase and repair costs or the as-completed appraised value, whichever is lower. The second mortgage covers any difference.

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INHP SETS THE GUARANTY RULE

INHP takes the total cost to purchase and repair the home and adds 5 percent to create the home’s guaranty value. The difference between the guaranty value and the current appraised value becomes the guaranty amount.

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MAKE ANY NECESSARY REPAIRS

If you’ve chosen to rehab a home, repairs must be completed within six months after closing. Extensions may be granted.

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LIVE IN AND MAINTAIN THE HOME FOR SEVEN YEARS

After seven years, if the home has not appreciated to the guaranty value, INHP will reduce the mortgage balance(s) to the guaranty amount.

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INHP office holiday hours

Starting Dec. 25, 2019, through Jan. 1, 2020, all INHP office locations will be closed for the holidays. We will resume normal hours of operation at 8:30 a.m., Jan. 2, 2020.

 

INHP will respond to any inquiries or form submissions made via our website or email system in the order they were received after we reopen. If you do not hear from an INHP representative by Jan. 9, 2020, please call 317-610-4663.

 

We wish you a warm and happy holiday season!

INHP offices are closed

Due to inclement weather, all INHP office locations are closed until 10 a.m., Dec. 17. At this time, staff are not able to answer phone calls; however, you may still use our online services, including:

  • Completing an online form for our home purchase or home repair programs
  • Registering for an INHP education course
  • Taking an online education course

We look forward to continuing operations and serving you once weather permits. If your request is urgent, please leave a voicemail at 317-610-4663. We will return your call in the order it was received as soon as we return to normal business hours.


We apologize for any inconvenience.

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