Old National Bank, FHLBI’s Homeownership Opportunities Program in the news

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.”

homesold_3200x1000_CropFHLBI 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 housing@fhlbi.com