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

The 2024 round of the Homeownership Opportunities Program is now closed.

We would like to thank our member financial institutions who use this program for their hard work supporting prospective homeowners in their local communities. Please check back later for updated information on next year's round.

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

The Homeownership Opportunities Program is available to qualified first-time homebuyers looking to purchase a home in Indiana or Michigan. Funds can only be accessed by partnering with a participating FHLBank Indianapolis member financial institution.

For FHLBank Indianapolis member financial institutions:

Member financial institutions interested in participating in the Homeownership Opportunities Program should stay tuned for news on next year's round.

For potential homeowners:

Are you looking for assistance in using HOP? Homebuyers must apply through one of our participating member institutions.

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 2024 HOP Guidelines for more details.

  MEMBERS WHO PARTICIPATED IN 2023 WILL RECEIVE A REGISTRATION RENEWAL FROM FHLBank INDIANAPOLIS AND DO NOT NEED TO SUBMIT THE AGREEMENTS BELOW.

  2024 Homeownership Initiatives Master Agreement and Registration 

  FHLBI.GIVES User Registration Form (FHLBI Members Only)

  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
  • purchase a single-family home, condominium, duplex, or modular unit;
  • contribute a minimum of $500 towards the purchase of the home;
  • complete a required homebuyer counseling course;
  • not allow total housing debt to exceed 40% 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.