Weary of moving from apartment to apartment every few years, Kevin and Coree Bennett longed for the stability of homeownership, of having a place where they and their two young daughters could put down roots.
The young couple’s combination of low salaries and weak credit scores made their dream seem impossible, until they heard about the Indianapolis Neighborhood Housing Partnership (INHP). Based in Indianapolis, the CDFI works with households to overcome the most common obstacles to homeownership: bad credit, a high debt-to-income ratio, and a lack of collateral.
“We wanted to own our own house and not rent anymore, and not waste our money.” – Kevin Bennett
The Bennetts enrolled in INHP’s Money Management and Home Buyer Education classes, receiving, among other guidance, one-on-one credit counseling to help them clean up their credit reports. With the tips and tools they learned from INHP, the couple was in good enough financial shape within a few months to buy their first home—a four-bedroom with a big yard where their daughters can play and grow.
Kevin Bennett offered a short but powerful endorsement of the CDFI: “INHP works.”
(Date of loan: 2013. Date of story publication: 2013)