HomeBoost – Down Payment Assistance

The HomeBoost Down Payment Assistance program provides down payment assistance to first-generation, first-time homebuyers in Indiana and Michigan. Eligible households must be both first-generation and first-time homebuyers who are at or below 120% area median income (AMI) and must intend to purchase a primary residence in Indiana or Michigan.

2026 Round

The 2026 round opens July 8. The program kickoff webinar on March 3 provided additional information on the upcoming round, including funding amounts, requirements and deadlines. A recording is available on the Community Investment Programs page.

Program guidelines are posted below and under the "Resources" section in .GIVES. 

Getting started with HomeBoost

• How do FHLBank Indianapolis member financial institutions access HomeBoost funds?

  FHLBank Indianapolis member financial institutions interested in participating must take the following steps in order to sign up for HomeBoost:

  1. Review the HomeBoost program guidelines found under Resources below
  2. Review and execute the HomeBoost Master Agreement and Program Registration and Certification forms.

  Please note: Master Agreements are required for NEW USERS only.

• How do homebuyers qualify for and access HomeBoost funds?

  To access HomeBoost funds, you must:

  • Be a first-generation AND a first-time homebuyer and apply for first mortgage financing with a participating FHLBank Indianapolis member.
  • Provide the executed purchase contract for the property.
  • Provide evidence of household income.
  • Complete pre-purchase homebuyer education.
  • Contribute a minimum $500 toward the purchase transaction.

  Prospective homebuyers work with the chosen FHLBank Indianapolis member institution to access the funds, never directly with FHLBank Indianapolis.

  See the HomeBoost guidelines under HomeBoost resource materials below for additional requirements.

HomeBoost resources

• Program guidelines

  2026 HomeBoost program guidelines