HomeBoost
Receive up to $25,000 in downpayment assistance.
Key Criteria for 2024:
The 2024 round of the HomeBoost Down Payment Assistance Program opened Aug. 14, with $5 million in funds available on a first-come, first-served basis to member financial institutions who submit an active HomeBoost Master Agreement and Registration Form. Qualifying households may receive up to $25,000 in down payment and closing and counseling costs assistance.
Because of the incredible demand, FHLBank Indianapolis has allocated an additional $2.5 million for the program. These funds will be released on Wednesday, September 18 at 9 a.m. and will be available on a first-come, first-served basis.
THE PORTAL IS NOW OPEN TO APPLY- CLICK HERE TO GET PRE-APPROVED
The HomeBoost Down Payment Assistance Program provides down payment assistance grant funding to prospective first-time homeowners who:
- identify as Black or African American, Asian, Hispanic, Indian American or Alaska Native, and/or Native Hawaiian or Other Pacific Islander; or
- identify as a first-generation homebuyer and meet at least one of the outlined criteria for first-generation homebuyers:
- The parents or legal guardians of at least one borrower do not currently and have not previously owned a home in the United States, or
- At least one borrower has aged out of foster care, or
- At least one borrower has become emancipated.
Eligible households must have a total household income at or below 120% of the local Area Median Income as defined by HUD and must intend to purchase a primary residence in Indiana or Michigan.
Eligible households who wish to use HomeBoost funds must work with a participating Federal Home Loan Bank of Indianapolis member financial institution to submit a request.
SOLFCU.org
HomeBoost es un programa de asistencia para el pago inicial de minorías que proporciona $25,000 en subvenciones a compradores de vivienda por primera vez que compran una casa en Michigan o Indiana.
¿Quién califica para HomeBoost?
- Identificarse como negro, asiático, hispano, indio americano, nativo de Alaska, nativo de Hawái u otra isla del Pacífico; o
- Identificarse como comprador de vivienda de primera generación y cumplir con al menos uno de los criterios descritos para compradores de vivienda de primera generación:
- Los padres o tutores legales de al menos un prestatario no son propietarios actualmente ni han sido propietarios de una vivienda en los Estados Unidos, o,
- Al menos un prestatario ha dejado de estar en cuidado de crianza, o Al menos un prestatario se ha emancipado.
Los compradores de vivienda elegibles deben trabajar con una institución financiera miembro de FHLBank Indianápolis participante para solicitar fondos de HomeBoost.
La ronda piloto de financiación comienza el 14 de agosto 2024 con $2,500,000 disponibles en subvenciones. Los hogares recibirán asistencia por orden de llegada hasta que se agoten los fondos o el 5 de marzo de 2024, lo que ocurra primero.