Affordable Housing

These grants help fund the acquisition, construction, or rehabilitation of properties for use as affordable rental or ownership.

Supporting community and housing initiatives

Since its creation in 1990, the Community Investments department of the Federal Home Loan Bank Indianapolis has played a pivotal role in providing safe and affordable housing to residents in Indiana and Michigan. By partnering with community developers, non-profit organizations and public agencies, FHLBank Indianapolis members can use our grants to build affordable housing, improve their neighborhoods and reinvest in their communities.

For more information about the grants that we offer, please read the program summaries below or visit their page.

Affordable Housing Program (AHP)

Each year, FHLBank Indianapolis member financial institutions (members) partner with local not-for-profit housing providers, economic development partners and housing developers (sponsors) to compete for AHP grants of up to $600,000.

These grants help fund the acquisition, construction or rehabilitation of properties for use as affordable rental or ownership. Since 1990, FHLBank Indianapolis has awarded more than $283 million to create or rehabilitate single- and multi-family housing in Indiana and Michigan.

Funds are awarded through an annual competitive application process. These awards support a multitude of affordable housing solutions for veterans, people with disabilities, or young adults transitioning out of the foster care system, and many others.

Homeownership Initiatives

In partnership with our members, FHLBank Indianapolis offers three grant programs designed to address the homeownership needs of families throughout the life cycle of homeownership:

Homeownership Initiatives Grants

Homeownership Opportunities Program (HOP)

Neighborhood Impact Program (NIP)

Accessibility Modifications Program (AMP)

HomeBoost Minority Down Payment Assistance Program

Community Support Program

To maintain access to FHLBank Indianapolis' long-term credit and Community Investment products, our members are required to submit a Community Support Statement (CSS) to the Federal Housing Finance Agency (FHFA) every two years (in odd-numbered years) to document their federal Community Reinvestment Act (CRA) performance and record of lending to first-time homebuyers. FHLBank Indianapolis will provide written notice to members subject to Community Support Program (CSP) review, including instructions for completing the CSS form, prior to the start of the biennial review cycle.

Public comments

Nonprofit organizations, community groups, and other interested parties may comment on a FHLBank member’s record. Public comments on an individual FHLBank member should be submitted to the FHFA via email to hmgcommunitysupportprogram@fhfa.gov. A list of members currently subject to CSP review and the current CSP review schedule are available under Resources.

Failure to meet CSS requirements

If a member does not submit a CSS or fails to meet the CSP requirements, the FHFA requires FHLBank Indianapolis to restrict the member's access to our services and products. Once access is restricted, the member cannot borrow advances for longer than one year or access any of the Community Investment programs, including the competitive Affordable Housing Program, Homeownership Initiatives programs, or Community Investment Program (CIP) products. The restriction can be lifted by submission of a CSS that meets the FHFA requirements.