Greenwood’s housing stock is appreciating about 5.2% year-over-year—strong but not bubble-territory. Entry-level buyers find 1,200–1,400 sq ft three-bedrooms from the early 2000s in the Old Southside and University Heights for the mid-$230s, while new construction in Centregrove and Honey Creek starts in the upper $300s and tops out near $500K. Days on market have crept up from 12 to 18 since last year, giving pre-approved buyers a little breathing room to inspect rather than waive contingencies.

Investors are active but not overwhelming: roughly 14% of sales go to LLC buyers, well below the 22% statewide average. That leaves more inventory for owner-occupants using low-down-payment FHA or conventional 3% programs. If you’re targeting the popular Center Grove School District, be prepared for multiple-offer situations in the $280–$350K band; NMHL’s fully-underwritten pre-approval letter—valid for 120 days—puts you on par with 20% down buyers because sellers know we can close on time.

• Worthsville & Parkside – Classic 1970s–1990s brick ranches, walkable to the new Greenwood Library. Median price $245K; IHCDA grants stretch far here.
• Old Town – Tree-lined streets, sidewalks to restaurants, and a true small-town vibe. Expect older HVAC and windows; pair NMHL’s FHA 203(k) with down-payment assistance to roll updates into one loan.
• University Heights – Quiet cul-de-sacs, 10-minute drive to I-65. Good school value for the money; property taxes hover at 0.79%.
• Honey Creek East – Newer builds, community pool, and quick access to the 135 corridor. Prices start $300K; USDA eligible on the fringe for 100% financing.

Each pocket has different tax abatement histories, so NMHL pulls county records before you write an offer to ensure the payment you’re quoted matches the first tax bill.

Indiana caps owner-occupied residential taxes at 1% of assessed value, but assessed value equals net assessed after deductions. Most Greenwood homeowners see an effective rate near 0.82%. On a $280,000 home, that’s roughly $190–$200 per month escrowed.

Greenwood offers two under-publicized breaks: the Johnson County Homestead Credit knocks about $45 off the annual bill, and the Greenwood Economic Development Commission sometimes abates new-construction taxes for five years in targeted corridors like the Madison Avenue corridor redevelopment. NMHL factors those abatements into your debt-to-income ratio so you can qualify for a bigger home if you need the space.

If you’re over 65 or a veteran with 10% service-connected disability, you can combine Indiana’s $14,000 homestead deduction with an additional $24,000 veteran deduction, trimming taxable assessed value by $38,000 and saving roughly $350 per year.

Center Grove Community School Corporation serves most of Greenwood south of Main Street and claims an A rating from the Indiana Department of Education. Homes inside the district trade at a 6–8% premium versus identical houses in Clark-Pleasant or Greenwood Community schools. For many families, that premium is still cheaper than private tuition or moving north into White River Township.

Insider insight: The upcoming Center Grove High School $98 million expansion (completion 2026) is expected to add vocational tech programs, a selling point that appraisers we work with project will lift nearby values another 3–4%. If you’re buying a starter home in Maple Grove Elementary boundaries today, you may be able to roll appreciation into a conventional 95% refinance in three years and drop mortgage insurance—something NMHL monitors and notifies clients about automatically.

1. IHCDA Next Home – 6% of purchase price at 0% interest; forgiven after 10 years. Can be layered with seller concessions up to 6% on FHA, making total borrower cash close to zero.
2. First Front Door (FFD) – Johnson County residents earning ≤80% AMI can receive $5,000 toward down payment. Must contribute at least $500 of personal funds; NMHL’s Fresh-Start borrowers often use gift money to meet that threshold.
3. FHLBI Down-Payment Plus – Up to $7,500 forgivable after five years. Greenwood banks participate, but you must use an approved lender like NMHL to secure the grant reservation.
4. Greenwood Urban Enterprise Zone – Buy within the UEZ boundary (roughly between County Line and Stop 18) and receive a $1,000 city grant plus reduced permitting fees for renovations.

Layering rules can be tricky, so NMHL’s software automatically checks eligible combinations and files reservations within 24 hours—critical because IHCDA’s pool often runs dry by mid-month.

We live here too. Our underwriters attend the same Greenwood Farmers Market you do, and we close loans at the Johnson County Title office off Emerson Avenue—so we know when a lien shows up at 4 p.m. on a Friday and how to clear it before Monday’s funding deadline.

Speed: Average 21-day close for purchases; 9 days for VA IRRRL refinances. We keep VA appraisers on retainer so Greenwood veterans don’t wait the industry-average 14 days for an appraisal slot.

Credit empathy: Our portfolio “Fresh-Start” loan was built for Hoosiers rebuilding after medical collections or divorce. We accept scores to 550 and look at rent history and utility ratings instead of traditional credit depth.

Self-employed friendly: Bank-statement loans, 109-only, asset-depletion, or 1-year P&L—pick the program that shows your true income, not the reduced taxable figure.

Local grants desk: One team member’s sole job is监控IHCDA, FHLBI, and city pools. When a new Greenwood subsidy opens, our pre-approved clients get first notification—often the same hour.

Ready to see what you qualify for? Apply online in 10 minutes or call (317) 555-LOAN to speak with a Greenwood-based loan officer tonight. We’ll run your numbers, pull a soft credit check that won’t hurt your score, and issue a same-day pre-approval letter you can hand to your Realtor before tomorrow’s showing.