In a recent story in the IndyStar, Federal Home Loan Bank of Indianapolis’ Homeownership Opportunities Program and our member, Old National Bank, Evansville, received a nice mention.
In business reporter James Briggs’ story, “For home loans, 3 percent down is the new 20 percent,” he told the story of Derrick Reed, 57, a retired autoworker, who wanted to move from apartment living to home ownership. Briggs wrote:
“Many buyers like Reed have been shut out of homeownership in the years since the housing crash. … Reed is working with Old National Bank to get a mortgage that will allow him to buy the house he wants. … Old National works with the Indianapolis Neighborhood Housing Partnership, Federal Home Loan Bank of Indianapolis, and the Federal Housing Administration to help buyers get down payment assistance.”
FHLBI understands that many people dream of homeownership—having a place of their own, with a yard. A place they can dig in, put down roots, and begin growing the American Dream.
But, as Briggs’ article also notes, many first-time homebuyers have trouble coming up with a down payment—not to mention closing costs. That’s where our Homeownership Opportunities Program can help. The program is only accessible through one of our member financial institutions and:
- Helps first-time homebuyers at or below 80% median income with down payment and closing costs.
- Provides up to $10,000 per household.
- Encourages the involvement of local community housing organizations.
To find out more, contact our Community Investment Department at 800-688-6697 or firstname.lastname@example.org.