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.

Prospective homebuyers who wish to use HomeBoost funds must work with a participating member financial institution. A list of participating institutions will be posted as the program round opens.

The 2025 round of HomeBoost will launch July 9. Materials are available now! See below for more information. 

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 the HomeBoost Program:

  Note: these steps are not for households themselves; households must work with a member financial institution to participate in the program.

  1. Review the HomeBoost Program Guidelines found in Resources below
  2. Review and execute the HomeBoost Master Agreement and Program Registration and Certification. 
  3. Email the completed forms to housing@fhlbi.com.

  Once these documents have been submitted, new users will receive login credentials allowing them to access FHLBI.GIVES where all requests for HomeBoost must be submitted. 

• 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 Resource Materials

• Program Guidelines

  2025 HomeBoost Program Guidelines

  2025 Income Guidelines

  FAQ

• Program Application Materials

  First-generation homebuyer certification

  Household income information worksheet

  HomeBoost income workbook

  120% AMI Amounts

  Certification of zero income

• Supporting Materials

  Housing counseling guide

  Income documentation guide