Indy Affordable Modification Program

The Indy Affordable Modification (IndyAMP) Program allows homeowners living in areas adversely affected by COVID-19 to refinance mortgage debt at a below-market interest rate for up to 30-years. IndyAMP allows owners to remain in their homes, become current with their mortgages, and lower their monthly payment.

Please note that the IndyAMP program is only possible while funding is available.

A Product of the

PARTICIPANT EXPERIENCES

Features

3% Fixed Interest Rate for up to 30-Years
Refinance Mortgage Debt from $20,000 to $200,000
10-, 20-, and 30-year options
90-Day Deferral of First Payment
600 Minimum Credit Score
No Appraisal – Your home value must be at or below 95% of comparable home values based on a REALTORS® Property Resource Report

Borrower Benefits

Annualize Income Based on Most Recent 30-Day Paystubs
Flexible Terms (10-, 20-, and 30-year Terms Available)
No Appraisal Required
Closing cost which can be included in the new loan
No Mortgage Insurance Required

Program Requirements

Existing Marion County Homeowners (Mortgaged House must be Primary Residence)
Existing Mortgage Debt between $20,000 and $200,000
Must be at or below 120% AMI
Negatively impacted by COVID-19 and/or home in one of the following zip codes: 46201, 46202, 46205, 46208, 46218, 46219, 46222, 46224, 46226, 46229, 46235, 46254, or 46260