Trevor Meeks
#HaveYouHerd: Navigating through the current housing market can take a lot more energy than many think. We all have questions about homeownership, the process, and if it may even be the right choice, so we talked to Trevor Meeks, Vice-President of Single-Family Lending for the Indianapolis Neighborhood Housing Partnership (INHP) to get some answers.
Trevor Meeks graduated from Indiana University Purdue University Indianapolis with a bachelor’s in general studies. Something others may not know about Trevor is that he’s a monster movie fanatic and has seen all the classic Godzilla and King Kong films!
Trevor has concentrated his career path in the financial services industry for more than 25 years with experience in mortgage banking, product development, and portfolio management. As the VP of single-family lending, Trevor’s responsibilities include overseeing INHP’s consumer program areas of homeowner development and lending operations.
Choosing to rent or buy a home is a major financial and lifestyle decision, so we asked Trevor what some financial myths and truths about owning vs. renting a home are. “The choice to rent or buy a home is a very personal decision,” he said. “We encourage people to understand what is affordable to their situation, and how to avoid being housing cost-burdened. A common pitfall many people find themselves in is buying a house that is more than what they can comfortably afford long-term. Roughly 20% of families earning a low or moderate-income in Marion County – INHP’s key demographic – are housing cost-burdened.”
Trevor has some long-term advice for those of us considering if we should rent or own. “Your housing choice reflects what you value, and it is different for everyone,” he explained. “Often, homebuyers coming to INHP are looking for a combination of stability, more space, and leaving a legacy for their children. Some people want a certain location where they can have easy access to amenities, different educational opportunities or become a member of a community. It’s also important to know life happens unexpectedly in any of these circumstances. Having a solid understanding of your personal finances and managing money is critical to long-term success as a homeowner or renter.”
Recent data reveals that minorities have experienced greater denial rates when trying to access mortgage loan financing, so we asked Trevor how INHP is addressing this disparity and he said, “INHP is proud to offer many mortgage loan products that help bring equitable access to homeownership.”
INHP offers one-on-one homeownership advising, rent-focused mortgage lending, down payment assistance to those who are income-eligible, and the Market Expander loan program to help people responsibly expand their price point. There are many options available to help if you are denied loans. You can learn more here: https://www.inhp.org/mortgages.
Advice that Trevor has to offer when you are looking for a home is to remember that “Affordability is the most important factor. For nearly 34 years, our core programming, which consists of homebuyer education, homeownership advising, and lending, has helped to create long-term, sustainable homeowners.”
When choosing to buy a home, there are a lot of factors that should be considered when doing so. With people such as Trevor working for the INHP, the community knows they are in good hands. To keep up with INHP and Trevor, you can follow them on Facebook (@INHPconnect), Twitter (@INHP_Home), Instagram (@inhphome), LinkedIn (@INHP) or their website: https://www.inhp.org/.