Assisting qualified first-time home buyers with down payment, closing, and housing counseling costs.

The Homeownership Opportunities Program (HOP) is a grant to help qualified first-time homebuyers with down payment, closing and housing counseling cost assistance. 

* Funds can only be accessed by participating FHLBank Indianapolis member financial institutions.

For Potential Homeowners

Are you looking for assistance in using HOP? Homebuyers must apply through one of our participating member institutions. Find a participating FHLBank Indianapolis member by clicking this link.

2023 Participating Members

Getting Started with HOP

• How do FHLBank Indianapolis Members access HOP funds?

  Member financial institutions must submit a Homeownership Initiatives Master Agreement and a Homeownership Initiatives Registration-Certification form found below.  Annually funds are disbursed on a first-come, first-serve basis.

  See the 2023 HOP Guidelines for more details.

  2023 Homeownership Initiatives Master Agreement and Registration 

  FHLBI.GIVES User Registration Form

  FHLBI.GIVES User Guide

• How do first time homebuyers qualify for and access HOP funds?

  To qualify for a HOP grant you must:

  • be a first-time homebuyer at or below 80% Area Median Income (AMI);
    • HUD Income Limits (HUD to update for 2023 on or around May 15^th)
  • purchase a single-family home, condominium, duplex, or modular unit;
  • contribute a minimum of $1,000 towards the purchase of the home;
  • complete a required state, HUD, or FHLBank Indianapolis-approved homebuyer counseling course;
  • not allow total housing debt to exceed 38% of total household gross income.

  *All requirements for the program can be found in the HOP Guidelines under HOP Resources below.

  To access HOP funds, home buyers must work through one of our participating FHLBank Indianapolis member institutions.