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Get Matched Free →HomeBoost Down Payment Assistance
Funding status: Active
How much assistance
Up to $15,000 (up to $25,000 through some participating lenders) (Grant)
Grant. No repayment required.
Eligibility
- Income limits: Household income at or below 120% of Area Median Income (AMI).
- First-time buyer required: Yes — Must be a first-time homebuyer or first-generation homebuyer.
- Geographic restrictions: Must purchase a primary residence in Michigan or Indiana. Available through participating FHLBI member lenders.
- Homebuyer education required: Yes
How to Apply for HomeBoost Down Payment Assistance
Step 1: Work with a participating FHLBI member lender (bank or credit union) in Michigan. Complete HUD-approved housing counseling before closing. Contribute at least $500 of your own funds toward the purchase. Buy the home with a mortgage (not cash). Eligible properties include 1-4 unit homes, condos, townhomes, co-ops, and manufactured homes.
Notes
Applicants must identify as Black or African American, Asian, Hispanic, Indian American or Alaska Native, and/or Native Hawaiian or Other Pacific Islander. Program operates on a first-come, first-served basis while annual funds last. Funds typically open mid-year.