The HomeBoost Minority Down Payment Assistance Program provides $15,000 in down payment assistance grant funding to those who
- are first time homebuyers.
- identify as Black or African American, Asian, Hispanic, Indian American or Alaska Native, and/or Native Hawaiian or Other Pacific Islander.
- have a household income at or below 120% of the local Area Median Income; and
- intend to purchase a primary residence in Indiana or Michigan.
The pilot round will open Tuesday, Sept. 5, 2023, with $2.5 million available. Eligible households must work with an FHLBank Indianapolis member financial institution, like Solidarity Community Federal Credit Union, to submit a request. Households will be assisted first-come, first-served until funds are exhausted, or March 5, 2024, whichever occurs first.
2020 Homeownership Rates 1
|White Americans|| 76%||80%|
1 National Association of Realtors Research Group, 2022 Snapshot of Race and Home Buying in America at 8–11 (February 2022), https://www.nar.realtor/sites/default/files/documents/2022-snapshot-of-race-and-home-buying-in-the-us-04-26-2022.pdf.