Launch – Down Payment Assistance

Making homeownership dreams a reality for first-time buyers

Launch – Down Payment Assistance is an annual program to help our member financial institutions support homeownership in their communities. Launch – Down Payment Assistance provides down payment, housing counseling and closing costs assistance to qualified first-time homebuyers.

Please note: FHLBank Indianapolis does not distribute grant funds directly to households. Prospective homebuyers must contact and work with a participating member to use the Launch – Down Payment Assistance Program. Please see the link below for a current list of participating members. 

Participating Members

2026 Round

The 2026 round opens April 14. Member financial institution staff should view the program kickoff webinar for an overview of the upcoming round, including funding amounts, requirements and deadlines. 

The 2026 Launch program training is now available. Click here for the slide deck and see the recording below. 

Getting started with Launch

• How do first time homebuyers qualify for and access Launch funds?

  FHLBank Indianapolis does not distribute funds directly to households. Launch is offered to homebuyers through participating financial institutions that are members of FHLBank Indianapolis. You must work with a participating financial institution to apply for Launch funds. See the complete member directory here.

  Please note: Launch may not be offered by all members. A list of member financial institutions who have agreed to publicize their participation in Launch is posted at the top of the page.

  Basic eligibility requirements are listed below. To learn more, reach out to a participating member financial institution:

  • Be 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.
• How do FHLBank Indianapolis members access Launch funds?

  Member financial institutions must submit the Homeownership Initiatives Master Agreement and Homeownership Initiatives .GIVES registration forms linked here.

  Homeownership Initiatives Master Agreement

  Homeownership Initiatives Program Registration

Launch resources

• Launch guidelines and forms
  • The Launch Guidebook is available in the Homeownership Initiatives .GIVES portal under "Resources"
  • The Real Estate Retention Agreement is available in the Homeownership Initiatives .GIVES portal under "Resources"
  • Income Calculation Workbook
• Launch informational materials

  Launch marketing flyer - English

  Launch marketing flyer - Español

  Note: You are able to insert your own institution's logo on the front and back side by opening the file in Adobe Acrobat and clicking the "insert image" placeholder. If you choose not to insert an image, this placeholder will not print. 

• Launch payoff forms

  Launch Payoff Workbook

• Launch training and .GIVES resources

  FHLBI .GIVES user guide

  Launch application submission guide for FHLBI.GIVES

  Launch Post-closing requirements and process guide

  FHLBI.GIVES adjustment requirements and process guide