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. A current list of participating members will be posted as the round opens.
2026 Round
The 2026 round opens April 14. Join our kickoff webinar on March 3 to receive information on the upcoming round, including funding amounts, requirements and deadlines.
Register here
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 Launch Guidelines in the Launch Resources below for additional requirements.
- How do FHLBank Indianapolis members access Launch funds?
Member financial institutions must submit a Homeownership Initiatives Master Agreement and a Homeownership Initiatives Registration-Certification. Annually funds are disbursed on a first-come, first-serve basis. These documents will be available when 2026 Program Registration opens in March.
Launch resources