Purchase & Home Improvement Loans:

Preservation of the existing housing stock is important in maintaining the character of the established neighborhoods as well as the development of affordable housing and increasing that availability is often achieved through the rehabilitation of substandard housing.  In an effort to address this issue, Project Renew provides a wide range of lending services.  Working in partnership with financial institutions and lenders, Project Renew’s goal is to deliver affordable mortgage products and home improvements loans to low and moderate-income residents in Fort Wayne and Allen County.  Project Renew originates, packages, underwrites and services its own loans and provides like service to other entities.  Through the self-servicing of loans, Project Renew further increases its ability to address the needs of the client by providing post purchase counseling (H.O.M.E.) to those individuals that are delinquent or exemplify consistent delinquencies.

Under the loan program, Project Renew provides financing for both purchase & home improvement.  A Home Improvement loan is available to customers within the targeted boundaries or to clients who live in a low to moderate-income census tract that are 80% or below median income and own their home.  However the Purchase/Home Improvement loan is targeted for individuals wanting to purchase an existing structure, which needs rehabilitation.  It has been proven that one improvements loan in a block can cause a positive ripple effect on the whole block.  Project Renew’s ability to provide access to these loans not only allows for the demonstration of confidence in the future of the home-owner’s neighborhood through their willingness to reinvest, but also helps all residents of the community by increasing property tax revenue while strengthening the economic impact for new home construction.