On October 26, the First internet Bank and Habitat for Humanity announced their partnership on a $16 million loan agreement that will go toward helping Indianapolis residents who struggle to purchase homes.
Jim Morris, president and CEO of Greater Indianapolis Habitat for Humanity, said 100 houses will be available in almost 12 different neighborhoods throughout Marion County. The plan calls for the completion of homes in Marion, Hancock, Hendricks and Hamilton counties. The partnership begins in 2023 and will run through 2025.
David Becker, founder and CEO of the First Internet Bank in Fishers, and Morris spoke in front of a home being built by volunteers.
“Homeownership is a vital factor for the stability of not only families but entire communities,” Becker said. “The agreement over the next three years will provide $16 million to build and improve over 100 homes here in the central metro area of Indiana.”
Morris said that a large portion of the workforce would not have access to homeownership because of the increasing cost of housing production and sales prices. Loan providers will look to help those who are not able to go to the market and buy traditionally due to low-income levels.
“Each family that comes through our program will go through home buying classes and will purchase through a mortgage through the partnership with First Internet Bank,” Morris said.
For more information about Greater Indy Habitat for Humanity, visit www.indyhabitat.org and for more information about First Internet Bank, visit www.firstib.com.