Launch – Down Payment Assistance
Our Homeownership Opportunities Program is now called Launch!
Making homeownership dreams a reality for first-time buyers
Funds available in the 2025 early round have been exhausted. The Second Chance Round will open Sept. 17, 2025. Second Chance is available to any member institution who received less than $100,000 during the early round of Launch. Participation is capped at $100,000 per member, inclusive of early round totals.
Separate registration is required. Information on how to register for the Second Chance Round will be posted here when available.
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.
Getting started with Launch
How do FHLBank Indianapolis members access Launch funds? - 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