Affordable Housing Program

Homeownership Initiatives

Community and Economic Development

Latest Updates

SUPPORTING COMMUNITY AND HOUSING INITIATIVES

Since its creation in 1990, the Community Investments department of FHLBank Indianapolis has played a pivotal role in providing safe and affordable housing to residents in Indiana and Michigan. By partnering with community developers, non-profit organizations, and public agencies, FHLBank Indianapolis members can use our grants to build affordable housing, improve their neighborhoods, and reinvest in their communities.

For more information about the grants that we offer, please read the program summaries below or visit their page.

AFFORDABLE HOUSING PROGRAM

Each year FHLBank Indianapolis members partner with local not-for-profit housing providers, economic development partners, and housing developers to compete for Affordable Housing Program (AHP) grants of up to $500,000 per project. These housing grants have changed lives and communities across Indiana and Michigan.

Since 1990, our bank has awarded more than $283 million to create or rehabilitate single- and multi-family affordable housing. AHP grants may be used for the acquisition, construction, or rehabilitation of properties for families with annual incomes that are 80 percent or less than the area median income (AMI).

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HOMEOWNERSHIP INITIATIVES

In partnership with our members, FHLBank Indianapolis offers four grant programs designed to address the homeownership needs of families throughout the life cycle of homeownership:

Homeownership Opportunities Program (HOP) helps first-time homebuyers with down payment assistance.

Neighborhood Impact Program (NIP) assists income-eligible homeowners with home repairs.

Accessibility Modifications Program (AMP) aids seniors and households with disabled family members with home modifications that will allow them to remain in their current homes.

Disaster Relief Program (DRP) was activated in early 2018 to aid those affected by severe flooding in Indiana and Michigan.


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COMMUNITY Engagement and Economic Development


FHLBank Indianapolis offers a variety of economic development programs to help communities succeed and thrive.

Through the Community Investment Program (CIP), FHLBank Indianapolis members have access to at-cost loans and letters of credit to support affordable housing and community economic development activities that benefit low- and moderate-income families or neighborhoods. These funds can be used to develop affordable housing or support local job creation. 

The Elevate small business grant program assists the growth and development of small businesses, their workforce, and the communities where they are located. FHLBank Indianapolis members can sponsor their customers to apply for grants of up to $25,000 for capital expenditures, workforce training, or a variety of other needs to get the boost that they need.

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See the 2017 Annual Report of our Affordable Housing Advisory Council, which advises the bank on low- and moderate-income housing programs and housing needs in Indiana and Michigan.