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.

Webinar recordings and other training materials for the 2025 program round are available here.

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. A current list of participating members is linked below.

Participating member institutions

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.  Annually funds are disbursed on a first-come, first-serve basis.

  Program materials for the 2025 round are now available! See Launch Resources below for more information.

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

  To access Launch funds, you must:

  • 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.

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

  See the Launch Guidelines in the Launch Resources below for additional requirements.

Launch resources

• Launch guidelines and requirements

  2025 Launch guidelines

  2025 updates bulletin

  2025 income guidelines

  Threshold requirements for submissions

  Launch first-time homebuyer certification

  Real estate retention agreement

  Real estate retention agreement - 2.5" margin

• Income-related documents and forms

  2025 income guidelines

  How to find HUD income limits

  Certification of zero income

  Income documentation guide

  Household income information worksheet

  Income calculation workbook

  Verification of employment form- Fannie Mae version

• Launch informational materials

  Homeownership Initiatives FAQ for households

  Homeownership Initiatives FAQ for members

  Threshold requirements for submissions

  How to find HUD income limits

  Launch Counseling Resource Guide

  Launch Marketing Flyer

• Launch payoff forms

  Launch payoff workbook

• Launch training and .GIVES resources

  FHLBI .GIVES user guide

  Launch application submission guide for FHLBI.GIVES

  Documenting and calculating income (video)

  Launch Post-closing requirements and process guide

  FHLBI.GIVES adjustment requirements and process guide