Inside INdiana Business

CareSource, INHP partner on homeownership gap

INDIANAPOLIS (Inside INdiana Business) — Ohio-based CareSource, which has a major presence in Indiana, says it has invested $2.5 million as part of a new partnership with the Indianapolis Neighborhood Housing Partnership. The nonprofit health plan says the funding aims to bolster homeownership opportunities for individuals and families in Marion County experiencing wealth and racial disparities.

CareSource cites a study from the Center for Research on Inclusion and Social Policy at IUPUI, which found Black homeownership in Marion County is 34%, compared to 64% for white homeownership. On the state level, the number of Black homeowners is 37%, compared to Caucasian homeowners at 73%.

The nonprofit says the funding will support the services provided by the INHP, including helping individuals with homebuyer and financial education, one-on-one homeownership advising, affordable mortgages and home repair loans.

“A main goal of ours is to be able to improve housing access for people who are traditionally left out of homeownership and to support the state in its efforts to bring about equity for all Hoosiers,” Steve Smitherman, president of CareSource Indiana, said in a news release. “Through our partnership with INHP, we’re taking steps toward achieving that equity.”

CareSource says the funding is part of an overall $6 million commitment to invest in affordable housing projects in Indiana.