Want to live in The Educators’ Village? Down payment assistance is now available to Indianapolis-area educational institution employees

Now, people who work for an Indianapolis educational institution and who want to buy a home in The Educators’ Village can access at least $5,000 in down payment assistance from the Indianapolis Neighborhood Housing Partnership (INHP).

Interested potential homeowners must work for an Indianapolis educational employer, like a public or charter school, university or early education center, and must have a household income at or below 120 percent of the area median income (AMI), or $92,600 annually for a family of four.

Down payment assistance may be applied only to the purchase of one of the houses INHP and Near East Area Renewal (NEAR) co-developed in The Educators’ Village, located on N. Rural between E. 10^th and St. Clair Streets.

Income-eligible educators may also access INHP’s Mortgage Accelerator program, which can reduce repayment period to 20 years at a below-market interest rate. See INHP’s Mortgage Accelerator flier here.

For more information, contact Renee Davis, Housing Advocate for NEAR, by calling 317-759-4708, or emailing renee@nearindy.org.

See homes available through this special DPA offering at www.nearindy.org/homes

Posted: August 21, 2018

INHP’s Home Value Guaranty initiative makes it possible to develop or buy a home within a defined redeveloping Near Eastside neighborhood area and have a guarantee that its cost will be matched by its appraisal or INHP will pay you the difference.

The program guarantees that after seven years, your home will appreciate 5 percent above the total cost to purchase and repair it.
You 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 or developer.
• An empty lot for building a home.

View the HVG program brochure

Eligibility
You are eligible if you earn up to 120% of HUD’s Area Median Income (AMI).

Take advantage of INHP’s outstanding loan offerings:

• 3% down payment
• Low-interest loan
• 20-year loan option

Learn more and apply at www.INHP.org/hvg.

INHP’s Rehab Match program provides “sweat equity” to skilled homebuyers. If you purchase a vacant or abandoned home in designated areas within five Indianapolis neighborhoods and personally complete INHP-approved repair projects to your home, you can have your efforts matched up to $15,000. Participating neighborhoods include: St. Clair Place and Englewood.

Eligibility
You are eligible if you earn up to 120% of HUD’s Area Median Income (AMI). You also must be able to skillfully perform some of the repairs needed.

Take advantage of INHP’s outstanding loan offerings:

• 3% down payment
• Low-interest loan
• 20-year loan option

View the Rehab Match program brochure

Learn more and apply at www.INHP.org/rehab-match.