Event Details
Our HomeBoost Down Payment Assistance Program is back in 2024! Following the astounding popularity of our 2023 pilot round, in which FHLBank Indianapolis provided a total of $2.5 million in down payment and closing and counseling costs assistance to minority households throughout Indiana and Michigan, we are proud to announce HomeBoost is making its much-anticipated return in August 2024.
This year, with $5 million in allocated funding, HomeBoost may provide up to $25,000 per household to assist with down payment and closing and counseling costs for income-qualified, eligible first-time homebuyers looking to buy a primary residence in Indiana or Michigan.
Key criteria for 2024:
- Households may receive up to $25,000 in assistance
- Eligible households include minority and first-generation first-time homebuyers
- Total household income must be at or below 120% of the local Area Median Income, as defined by HUD
- Prospective homebuyers must purchase a primary residence in either Michigan or Indiana
The 2024 round of the HomeBoost program will open Aug. 14 with $5 million in available funds. For additional information on the program, see the HomeBoost section of our Community Programs landing page.
Community Investment Department staff will be hosting a training webinar to review key 2024 program information, requirements and eligibility criteria. The webinar will take place Wednesday, July 24, from 11 a.m. to noon (Eastern).
Click here to register
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