Indianapolis Neighborhood Housing Partnership


Indianapolis Neighborhood Housing Partnership


 

Homeownership is only a dream for some Americans. They don’t qualify for a traditional mortgage and can’t find alternative financing. Others are losing their grip on homeownership. Maintenance and utilities costs are prohibitive, or difficult circumstances arise to make mortgage payments hard or impossible to meet.

Homeownership is only a dream for some Americans. They don’t qualify for a traditional mortgage and can’t find alternative financing. Others are losing their grip on homeownership. Maintenance and utilities costs are prohibitive, or difficult circumstances arise to make mortgage payments hard or impossible to meet.

But finding and staying in homes gets easier when communities commit to supporting their neighbors. Since 1988, Indianapolis Neighborhood Housing Partnership has worked with government agencies, nonprofit and civic groups, banks and others to help people buy and keep homes. The partnership, established by the Indianapolis City Council, has provided home financing, repairs and financial education to more than 30,000 families.

Huntington has worked with the partnership for more than 20 years. The bank supports the nonprofit group with gifts and sponsorships and provides more than 80 percent of financing for people completing the partnership’s financial literacy courses.1 Residents of low- and moderate-income areas or other residents who qualify first take partnership-sponsored classes that prepare them to pursue home ownership. The partnership then helps these participants find and secure financing.

“We make sure they are ready, to where they are in a choice position to obtain their mortgage,” Laurie Jones, the partnership’s assistant director of homeownership development, said.2

Alex and Brad Taylor wanted to be in a home by the time their daughter started school, but lacked the credit to qualify with traditional lenders. After applying with the partnership, they heard “yes.” The Taylors took the required homebuyer education courses and worked with the partnership to become homeowners.

But success didn’t stop with purchasing their house. Sustainability is also part of the partnership’s mission. The organization educates future and current homeowners about building and maintaining credit and budgeting.

“We still use a lot of the tools we were taught in that class,” Alex Taylor said.3

The partnership also provides grants and financing to help residents repair or upgrade their homes’ energy efficiency.

Huntington works with the partnership to adopt homeowners who need help beyond financing. The bank funds the home improvements; colleague volunteers provide the labor.

Many Huntington colleagues remember the bank’s work with a single parent who had been abused. Although the mother of two young daughters could make the mortgage payments on the house, she couldn’t afford much else. Huntington went beyond making a few necessary repairs to the family’s home. Thirty colleagues painted the interior and exterior, sealed the driveway, fixed exterior trim, hung curtains and decorated the daughters’ rooms while the homeowner was at work.

When the woman arrived back home, she was overwhelmed with emotion. Many of the Huntington colleagues were moved to tears. Her family’s home was beautiful and functional.4

By increasing affordable housing opportunities and stability, the partnership is helping develop and revitalize neighborhoods areawide. Huntington deems this work important. After all, there is no place like home.

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For more than 20 years, Huntington has partnered with the Indianapolis Neighborhood Housing Partnership, providing 80 percent of financing to students in the partnership’s financial literacy courses. Credit: Indianapolis Neighborhood Housing Partnership