Launch – Down Payment Assistance
Our Homeownership Opportunities Program is now called Launch!
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 in our district.
Member financial institutions interested in Launch should register for our upcoming 2025 program training webinar on February 27.
Prospective homeowners may access Launch funds by working with a participating member institution. A list of participating institutions will be posted as the program round opens.
Getting Started with Launch
How do FHLBank Indianapolis Members access Launch funds? Member financial institutions must submit a Homeownership Initiatives Master Agreement and a Homeownership Initiatives Registration-Certification form found below. Annually funds are disbursed on a first-come, first-serve basis.
Materials for the 2025 round of Launch will be posted prior to round opening.
- How do first time homebuyers qualify for and access Launch funds?
To qualify for a Launch grant, you must:
- be a first-time homebuyer at or below 80% Area Median Income (AMI) based on household size;
- purchase a single-family home, condominium, duplex, or modular unit;
- contribute a minimum of $500 towards the purchase of the home;
- complete a required homebuyer counseling course;
- not allow total housing debt to exceed 40% of total household gross income.
To access Launch funds, home buyers must work through one of our participating FHLBank Indianapolis member institutions. Program requirements will be posted in full prior to round opening.
Launch Resources