OFN
  • Our Work
    • What is a CDFI?
    • Key Priorities
      • Affordable Housing
      • Financial First Response
      • Climate Change & Resilience
      • Healthy Communities
      • Native Finance
      • Persistent Poverty
      • Racial Equity
      • Rural Development
      • Small Business
    • Impact Stories
    • Impact Data
  • Investing & Giving
    • Why Partner with CDFIs
    • Invest in CDFIs
    • Invest Through OFN
    • Investor Resources
  • Members
    • Join OFN
    • CDFI Connect Community
    • Take Action
  • Public Policy
    • Partnering with the Public Sector
    • U.S. Treasury CDFI Fund
    • Public Policy Communications
    • Take Action
  • Initiatives
    • Current Initiatives
      • CDFI Community Investment Fund
      • Economic Justice Partnership Fund
      • Finance Justice Fund
      • Good to Grow CDFI Investment Fund
      • Grow with Google Small Business Fund
      • Native CDFI Awards
      • Ned Gramlich Award
    • Past Initiatives
  • About
    • About OFN
    • Mission & Vision
    • Our Team
    • OFN Board
    • OFN Training & Events
    • OFN Careers
    • OFN Financials
    • Contact Us
  • Resources
    • Blog
    • Press Room
    • CDFI Locator
    • CDFI Industry Job Bank
    • CDFI Resource Library
    • Public Appearances
    • CDFI History
    • About CDFIs for Clients

Quick Links

  • CDFI Locator
  • Blog
  • OFN Training & Events
  • Join
  • CDFI Connect Community
Nora Harris, INHP client
7th
October
2021
Indianapolis, IN

Indianapolis Mother Purchases First Home with Mortgage from Local CDFI

October 7, 2021

Client: Nora Harris

Client Location: Indianapolis, IN

CDFI: Indianapolis Neighborhood Housing Partnership (INHP)

CDFI Service Area: Indiana

CDFI Services Provided: 

Financing, with support from the Finance Justice Fund

Financial and Social Impact

INHP’s impact to date:

  • 465 unique households provided with financial education
  • 77 families qualified for a mortgage
  • 87 first and second mortgages closed for home purchase and home repair
  • 449 affordable housing units in Indianapolis impacted

Nora wanted to become a homeowner so she could provide a pleasant, safe, and healthy environment for her son to grow up in. She also wanted the ability to pass down a home to future generations of her family. When she needed support turning her goals into reality, she contacted Indianapolis Neighborhood Housing Partnership (INHP).

As a first-time homebuyer, with an income that is 44% of the area median income, Nora qualified for INHP’s Mortgage Accelerator, an innovative mortgage product designed to expedite wealth accumulation for home buyers with low and moderate incomes. The product enables families to gain the benefits of a shorter loan term (20 years compared with a standard 30-year mortgage) without a significant increase to their principal and interest payments that normally accompanies the reduced time frame.

“INHP had a positive impact on me during my homeownership journey! They taught me helpful budget management techniques, educated me on building and maintaining good credit, and they were amazing with explaining the process and helping me every step of the way! We couldn’t be any happier with our new home!” shared Nora.

Tags: Affordable Housing, Finance Justice Fund, Mortgage

Share post to Facebook
Share post to Twitter
Share post to LinkedIn

Opportunity Finance logo - white

  • About OFN
  • Contact Us
  • Blog
  • OFN Training & Events
  • Newsletter Subscription
  • CDFI Locator
  • Invest in CDFIs
  • CDFI Connect Community
  • CDFI Industry Job Bank
  • Press Room

Copyright © 2023 Opportunity Finance Network. All rights reserved.

  • Terms of Use
  • Sitemap