Indianapolis is Affordable!

According to the National Association of Homebuilders (NAHB) Wells Fargo Housing Market Index, Indianapolis ranks as the most affordable housing market for the 15th consecutive quarter. Check out this report from CNN Money.

Additional Opportunities for Homebuyers to Consider

The Federal Home Loan Bank of Indiana (FHLBI) offers up to $10,000 in Neighborhood Stabilitzation Assistance to match an NSP investment. Many of the programs that I have been talking about in my recent blogs can be layered on top of one another in order to maximize assistance. Homebuyers can use these funds for closing costs and downpayment assistance. There are income restrictions on these programs as well as the home you are purchasing must meet the location requirements. Now is a great time to become a homeowner and make your money work for you. Questions? Let's talk! 317-557-5478.

Why rent when you can own?

Declining home prices and record low mortgage rates along with the tax credits now make home purchases more affordable and are creating a great environment for renters to convert to homeowners. There will continue to be a tremendous number of foreclosures, along with lower prices which provides wonderful opportunities to buy homes at amazing prices. In many markets, home values are at the lowest level since 2003. With fixed mortgage rates at or slightly under 5%, the tax credit that is available and a vast selection of homes to choose from, many buyers are beginning to recognize that this is a great opportunity to break out of renting and into homeownership.

$15,000 for Foreclosed Homes

Those individuals who buy a foreclosed home to use as a primary residence can qualilfy for a $15,000 loan (not to exceed 20% of purchase price) from The Indiana Housing and Community Development Authority (IHCDA) Market Stabilization Fund. These are available to assist home buyers w/the acquisition and/or rehabilitation of a foreclosed residential property located w/in an area of greatest need. To learn more about this program and others, visit the IHCDA website at www.in.gov/ihcda.