Launch – Down Payment Assistance

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.

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. Please see the link below for a current list of participating members.

Participating Members

2026 Round

The 2026 round opens April 14. Member financial institution staff should view the program kickoff webinar for an overview of the upcoming round, including funding amounts, requirements and deadlines.

Getting started with Launch

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 list of participating members above to connect with a member institution offering this program.
How do FHLBank Indianapolis members access Launch funds?
Member financial institutions must submit the Homeownership Initiatives Master Agreement and Homeownership Initiatives .GIVES registration forms linked here.

Homeownership Initiatives Master Agreement

Homeownership Initiatives Program Registration