The Homeownership Opportunity Program (HOP) is a grant for qualifying first-time homebuyers at or below 80% Area Median Income (AMI) with down payment and closing cost assistance. Each year, FHLBank Indianapolis members use these grants to help people make their dream of homeownership a reality.
Qualifying households could receive up to $8,000 in assistance with a mortgage from an FHLBank Indianapolis member.
Funds are available on a first-come, first served basis, and the funding is announced each spring. Many of our member financial institutions work directly with first-time homebuyers or through community housing organizations to help individuals meet the program requirements.
To qualify for a HOP grant you must:
2019 Homeownership Initiatives Master Agreement (Word Doc)
2019 Homeownership Initiatives Registration-Certification (Word Doc)
HOP Fact Sheet
Affordable Housing Program Implementation Plan
Income Calculation Guidelines: Attachment D of 2019 Implementation Plan
Counseling Resource Guide
HOP, NIP, and AMP Frequently Asked Questions
Verification of Employment (FNMA) (1005)
Zero Income Affidavit
Real Estate Retention Agreement (Word Doc)
Real Estate Retention Agreement 2.5" Margin (Word Doc)
Return of Funds Worksheet (Excel)
First Time Homebuyer Affidavit
Fund Manager (Excel)
HOP Marketing Materials (Print format)
Standalone Income Calculation Workbook (Excel)
Supplemental Income Calculation Worksheet (Excel)
HOP Post Closing Statement (Excel)
Funds for the 2019 round of the Homeownership Initiatives (HOP/NIP/AMP) have been exhausted.
Select the State, County, MSA, and Household Size to view the AMI percentage income limits.
Choose a County
Choose an MSA
Choose a Household Size
The AMI Calculator is for reference. All grants are awarded according to the Implementation Plan.