MAKE THE DREAM OF HOMEOWNERSHIP A REALITY.
The Homeownership Opportunity Program (HOP) grant from FHLBank Indianapolis helps first-time homebuyers with assistance for down payment, closing costs, and counseling costs.
- Up to $20,000 per household may be requested.
- Funds are available on a first-come, first served basis, and the funding is announced each spring. Many of our member financial institutions work directly with first-time homebuyers or through community housing organizations 10 help individuals meet the program requirements.
Qualifying households could get up to $20,000 in assistance from an FHLBank Indianapolis member.
PROGRAM REQUIREMENTS
To qualify for a HOP grant you must:
■ be a first-time homebuyer’ at or below 80% area median income;
■ purchase an owner-occupied 1-4 family dwelling, townhome, or condominium;
■ contribute a minimum of $500 towards the purchase of the home;
■ complete a required home buyer counseling course;
– HOP funds may be used to cover the cost of counseling
■ not allow total housing debt to exceed 40% of total household gross income
TAKE THE NEXT STEP
Interested in using a HOP grant for a downpayment or closing cost assistance? Contact your State Bank mortgage banker today! Call: 765-483-6397.
