Neighborhood Impact Program (NIP)

The FHLBI doesn't work just to provide housing opportunities for low-income families; we also strive to improve entire neighborhoods. As part of the FHLBI's Homeownership Initiatives, the Neighborhood Impact Program (NIP) revitalizes and repairs neighborhoods and homes to restore function, character, and pride. NIP will match a homeowner's funds four-to-one. Each FHLBI member, however, can offer homebuyers a smaller matching ratio (i.e., two-to-one) if it chooses to. The FHLBI will also match funds received from other sources including other grants, gifts or home equity loans. Funds are available through NIPExpress.

NIPExpress provides rehabilitation assistance to qualified homeowners on a first-come first-served basis. With a cap of $10,000 per household, NIPExpress is well suited for emergency needs such as roofs, windows, furnaces, wheelchair ramps, and handicap accessibility issues. Funds are released around March 1 and August 15 each year. To access these funds, member financial institutions of the FHLBI must participate in training, submit a registration form and agreement, and upon approval, request funds as needed until they reach the maximum amount allowed or no funds remain.

Updates to the balance of NIPExpress funds will be published bi-weekly.

> Available HopExpress and NIPExpress funds.

Updated: June 04, 2008