Three ways INHP helps you buy a home in a competitive market
Have you heard there’s a shortage of affordable homes in Indianapolis? Many people have been feeling the lack of housing options, especially when in March 2024, the median sales price for a single-family home in central Indiana grew to $293,000 – a 6.5% jump since this time last year.
The price increase may make it harder to find an economical home and provide a compelling offer. However, by making sure your finances are prepared and becoming pre-qualified for a mortgage with a lender ahead of time, you can still successfully find and buy a home that meets your needs and budget.
INHP offers the following programs and services to help you be competitive and purchase a home in Indianapolis’ housing market:
- Down Payment Assistance: You could qualify for thousands of dollars in Down Payment Assistance funds to buy a home, based upon income and household size.
- East 38th Street Corridor and Market Expander: Consider searching for homes that are part of the East 38th Street Corridor. As part of the Lift Indy community development program, this up-and-coming area is experiencing $3.5 million in renovations. This includes new homebuying opportunities located close to the library, YMCA and park – many of which may qualify for the advantageous Market Expander loan program that helps buyers expand their purchasing power.
- Education and advising: INHP offers online and in-person classes, many of which are free, that teach how to manage daily finances, save money and increase your credit score. We also offer homeownership advising with HUD certified counselors who work with you to make a personalized plan to pay off debts, increase your credit score and save for a down payment.
Take that first step and contact INHP today!
