Exciting news for first-time, first-generation homebuyers in Indiana and Michigan: the HomeBoost Down Payment Assistant Program is launching July 9, 2025. This new program will help eligible buyers purchase a primary residence, with household income limited to 120% of the area median income (AMI).
To qualify for this assistance, applicants must:
With a higher income limit (120% of AMI) and no purchase price restrictions, HomeBoost is one of the most flexible down payment assistance programs available. Given the strong demand, funds will run out quickly — so it's best to apply will in advance of the July 9th launch date.
If you already have a purchase agreement and mortgage application ready, submit your request for HomeBoost assistance on launch day to secure your funding!
Key Program Details
- Eligible buyers must apply through a participating lender (such as Michigan First Credit Union).
- Funds are limited and allocated on a first-come, first served basis.
- The maximum subsidy provided is the lesser of $25,000 or 20% of the home's purchase price.
How to Access HomeBoost Funds
To qualify for this assistance, applicants must:
- Be both a first-generation and first-time homebuyers and apply for first mortgage financing with a participating lender.
- Provide a signed purchase agreement for the home.
- Submit proof of household income eligibility.
- Complete a pre-purchase homebuyer education course.
- Contribute at least $500 of personal funds towards the purchase.
First-Generation Homebuyer Criteria
Applicants must self-identify by filling out a form confirming they meet at least one of these conditions:- Neither parent nor legal guardian of the borrower currently owns or has previously owned a home in the U.S.
- The borrower aged out of foster care.
- The borrower has been emancipated.
Eligible Properties
- Owner-occupied 1-4 family properties, townhouses, condos, and manufactured homes deeded as real estate.
- No restrictions on purchase price, making this program highly accessible to more buyers.
Why Apply Early?
With a higher income limit (120% of AMI) and no purchase price restrictions, HomeBoost is one of the most flexible down payment assistance programs available. Given the strong demand, funds will run out quickly — so it's best to apply will in advance of the July 9th launch date.If you already have a purchase agreement and mortgage application ready, submit your request for HomeBoost assistance on launch day to secure your funding!