Key Helps Indianapolis Families Preserve Homes
For Homeowners in Indianapolis, It’s Like a Miracle
Bonnie is a retiree. A cancer survivor. A grandmother. And a homeowner. She adores her comfortable home and the Indianapolis neighborhood where she lives.
But having to pay for repairs on her century home on a fixed income? That reality threatened her ability to stay in her home.
A trusted partner was there for her.
“When you’re almost 77, you had cancer and your house is falling apart, when you can have somebody reach out and say, ‘We will help you,’ it’s just like a miracle,” she says.
Keeping Families in Homes
The Indianapolis Neighborhood Housing Partnership® (INHP), a nonprofit financial organization, has earned praise, cooperation and philanthropic support from KeyBank over the past five years because of what it’s doing in Indianapolis communities.
The organization has been changing people’s lives by helping them stay in their homes. For each family it helps, INHP preserves not only a house, but a way of life. And in doing so, it offers its families something that can’t be measured: peace of mind.
“We provide access and choice for families with low and moderate incomes when it comes to homeownership—that’s the foundation,” explains Morgan Hoover, INHP’s vice president for philanthropy and marketing. “But, we’re also working to keep families in homes. We want to help people sustain the homeownership they worked so hard to get.”
INHP focuses on meeting the needs of underserved individuals and families in Indianapolis. It started in 1988 with down payment assistance and homebuyer education so more people could understand the process and buy their first homes.
The partnership also has a history of helping to finance emergency home repairs so families can protect what may be their most prized investment. Many are seniors or from minority populations, and many are living on fixed incomes.
The Stabilization Repair Loan Program—a zero-interest, 30-year loan with optional payments—helps families pay for home repairs before those repairs lead to a crisis. With KeyBank’s philanthropic support—$500,000 over five years—INHP has helped dozens of families maintain their homes.
The loan program means more families have been able to stay in the homes and neighborhoods they love, keeping home values high and neighborhoods vibrant.
“You talk about the family that’s been there for 30, 40, 50 years, second generation, and all their amenities are in that neighborhood,” Morgan observes. “They’re the crime watch. They’re the neighborhood police – they know what kids are coming and going. Who’s in their alleys? Who’s shopping at the local grocery store? It’s just being able to have that consistency and really thrive. And that’s the beauty of it—the neighborhood.”
Homeowners like Bonnie have been thrilled and even in awe of what INHP has done for them. New siding only touches the surface of her appreciation. “I'm still speechless over how everything turned out.”