Impressive new, affordable Indianapolis homes





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Published on Sep 19, 2012


The Indianapolis Housing Agency and two experienced developers are building highly-appealing 3- and 4-bedroom, 2 ½ bath single-family homes with 2-car detached garages at Red Maple Grove at a surprisingly affordable price.

The Hope VI program enables the purchase of a $140,000 home by a buyer who can qualify for a $70,000 first mortgage and pay $1,000 - $500 at contract time and $500 a closing. The balance of the price is covered by an interest-free second mortgage that becomes a grant and is forgiven after the home owner has occupied the home for 5 years.

Forget any notion you ever had about affordable housing and watch the sponsored video. You'll see a home and a community that rival anything being offered in the South Indianapolis market. The total monthly cost of ownership is in the $500 - $600 range, making Red Maple Grove a must-visit community.


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