News by "Affordable Housing"

Affordable Housing Member Announcements FHLBank Indianapolis allocates nearly $7 million to Rate Advantage mortgage program for low-income homebuyers In response to heavy member demand, the Board of Directors of FHLBank Indianapolis recently approved adding $2.7 million to its new Rate Advantage Program, bringing the total allocation to $6.7 million to make homeownership more affordable to hundreds of low-income residents in Indiana and Michigan. Affordable Housing Community Investments FHLBank Indianapolis announces record in Affordable Housing Program grants FHLBank Indianapolis is proud to announce more than $34.6 million in Affordable Housing Program grants to 42 projects across Michigan and Indiana in 2024 — a record amount of funding for our AHP program. Affordable Housing Member Announcements FHLBank Indianapolis, MSHDA announce mortgage program for low-income, first-time homebuyers In an effort to make homeownership more accessible and affordable in Michigan, the Federal Home Loan Bank of Indianapolis and the Michigan State Housing Development Authority (MSHDA) have created the MSHDA Rate Relief Mortgage Program to benefit low-income, first-time homebuyers in the state. Affordable Housing Community Investments Affordable Housing Program bridges funding gap for historic Lansing school Historic Walter French Junior High School in Lansing, Mich., gets a boost from an FHLBank Indianapolis Affordable Housing Program grant. Affordable Housing Public Announcements FHLBank Indianapolis announces $800,000 in pre-development grants for Tribal Nations Housing Development Assistance Program FHLBank Indianapolis has announced that $800,000 in pre-development affordable housing grants is now available to the 12 federally recognized tribal nations located in Michigan through the Tribal Nations Housing Development Assistance Program (TNHDAP). Affordable Housing Community Investments HomeBoost Down Payment Assistance Program returns with $5 million allocation After exhausting $2.5 million in just two months in 2023, FHLBank Indianapolis is relaunching the HomeBoost Down Payment Assistance Program with double the allocation — $5 million to help with down payment, closing and counseling costs. Affordable Housing Community Investments National housing and wages report mirrors FHLBank Indianapolis findings A new annual report by the National Low Income Housing Coalition (NLIHC) that highlights current trends in rental housing and average wages across the country echoes similar dismal findings of a housing needs assessment conducted by the Federal Home Loan Bank of Indianapolis in 2023. Affordable Housing Public Announcements FHLBank Indianapolis announces new Tribal Nations Housing Development Assistance Program FHLBank Indianapolis has partnered with the Michigan State Housing Development Authority to launch the Tribal Nations Housing Development Assistance Program. The program aims to build on tribal nations' existing capacity and provide resources to develop affordable housing programs. Affordable Housing Community Investments FHLBank Indianapolis awards $15.12 million in Affordable Housing Program grants The Federal Home Loan Bank of Indianapolis has awarded $15.12 million in affordable housing grants to 32 affordable housing developments in Indiana, Michigan and Kentucky through the Bank's 2023 Affordable Housing Program (AHP). These AHP grants of up to $600,000 w Affordable Housing Member Announcements FHLBank Indianapolis announces 2023 Community Spirit Award winners FHLBank of Indianapolis has awarded the 2023 Community Spirit Award to Susan Ruch, Small Business Banker at The Farmers Bank in Frankfort, Ind., and Michelle LaClair-Ziembo, Human Resources Manager at United Bay Community Credit Union in Bay City, Mich. Affordable Housing Community Investments FHLBank Indianapolis increases HomeBoost allocation to $2.5 million In an effort to help make homeownership more equitable in Indiana and Michigan, the Federal Home Loan Bank of Indianapolis has allocated $2 million in additional funds for the Bank's pilot HomeBoost minority down payment assistance program. Affordable Housing Public Announcements 2022 Affordable Housing Advisory Council (AHAC) report released The Federal Home Loan Bank of Indianapolis continues to support the communities we serve through our affordable housing and community investment programs.