Is a new place to call home in your near future? 

Laurie Jones, Director of Homeowner Development, Indianapolis Neighborhood Housing Partnership, says INHP believes that every person in Indianapolis has the opportunity to live in a safe, decent and affordable home in a vibrant neighborhood. She adds: 

•    We achieve our vision by helping people to be long-term, successful homeowners and by enhancing the places where people live, learn, work and play.

•    INHP has a team of trusted experts who can help with budgeting, understanding mortgages and learning what it takes to be a successful homeowner. We also offer homebuyer education classes (many of which are free), home repair loans, home mortgages and down payment assistance. 

Budgeting for the new year: 

The holiday season is almost here, and a new year will be here before we know it. If homeownership is something you want to accomplish in 2019, there are some steps you can take now to start moving toward that goal.

Five easy tips to help budget during the holidays to set yourself up for successful homeownership in the new year:

1.    In addition to keeping a monthly budget, also make a holiday budget.

    Make a list of all your holiday expenses, but don’t forget the little things like decorations, travel costs, cards, wrapping paper, etc. This will ensure there are no unexpected surprises. 

    Determine a spending limit and stick to it by tracking your spending.

2.    Shop the sales and don’t wait until the last minute to do your shopping. 

    Plan in advance and compare prices to make sure you’re getting a good deal
3.    Don’t accumulate credit card debt on expensive gifts.

    Holiday shoppers can get into trouble by relying too heavily on credit cards. Try to stick to cash or debit cards whenever possible to avoid adding extra interest payments. 

    A general rule of thumb is to keep your debt-to-credit ratio below 30%. That goes for the ratio on any one of your cards individually as well as for your overall ratio. 

    A small, thoughtful gift can be more meaningful than an expensive gift that someone may never use, and it won’t put you into debt. 

    Take a minute to think about what the people on your list could really use, and get creative with your DIY skills. 
    If electronics or home gadgets are on your list, try Ebay, OfferUp.com, Facebook Marketplace, or other online marketplaces with gently used goods where you can get a below-face value deal.

4.    Discuss your down payment.

    Let your friends and family know you want to be a homeowner in 2019. If you’re gifted money, consider putting it toward your down payment or closing costs for your new home. 

5.    Let INHP help you to make homebuying a reality in 2019.

    Homeownership isn’t out of reach. With discipline and hard work, you can make homeownership a reality.

    INHP offers one-on-one advising as well as several classes – many of which are free – to help first time homebuyers reduce debt, save for a down payment and eliminate credit barriers. 

    Additionally, you could qualify to receive up to $5,000 in down payment assistance through INHP’s loan program. 

    Go to INHP.org to get started or call 610-HOME(4663) and we can help you get started on your journey to homeownership. 

To learn more, visit www.inhp.org. 

SEGMENT IS SPONSORED BY INHP