In partnership with the Federal Home Loan Bank of Indianapolis (FHLBI), Independent Bank now offers the HomeBoost Down Payment Assistance program, where qualified applicants could receive financial assistance up to $25,000* per household to put towards down payment, closing costs, and housing counseling costs for their first home.
To qualify for the HomeBoost program, applicant(s) must be a first-time homebuyer; be purchasing a primary residence in Indiana or Michigan; have a household income at or below 120% of the local HUD Area Median Income based on family size; and identify as either a minority or a first-generation homebuyer or both. For minority, at least one applicant must self-identify as a Black or African American, Asian, Hispanic or Latino, American Indian, or Alaska Native, and/or Native Hawaiian or other Pacific Islander.
No repayment of funds is required. Funds are limited, and available on a first-come, first-served basis until all funds are exhausted.
To learn more about the HomeBoost Down Payment Assistance program, and to see if you qualify, please visit IndependentBank.com/25k.