HomeBoost Down Payment Assistance Program
Up to $20,000 in assistance
The 2026 HomeBoost Down Payment assistance program will open on Wednesday, July 8, with funds available on a first-come, first-serve basis. Qualifying households may receive up to $20,000 in down payment, closing and counseling cost assistance.
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Who is eligible?
The HomeBoost Down Payment Assistance Program provides down payment assistance grant funding to prospective first-time homebuyers who identify as a first-generation homebuyer and meet at least one of the outlined criteria for first-generation homebuyers:
- The parents or legal guardians of at least one borrower do not currently and have not previously owned a home in the United States, or
- At least one borrower has aged out of foster care, or
- At least one borrower has become emancipated.
Eligible households must have a total household income at or below 120% of the local Area Median Income as defined by HUD and must intend to purchase a primary residence in Indiana or Michigan.
Where does the money come from and how does it affect my loan?
The funding is provided by Federal Home Loan Bank of Indianapolis (FHLBI), for which Consumers is a participating member. Any monetary assistance granted must be approved by the FHLBI first and would be paired with a Consumers mortgage. Consumers would still approve and service the home loan.
Our Mortgage Toolkit for first-time home buyers is full of educational resources to help you navigate the mortgage process and get into the home of your dreams.
*To qualify, applicant(s) must: be a first-time homebuyer and be purchasing a primary residence in Indiana or Michigan, 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. First-generation homebuyers must meet at least one of the following criteria: the parents or legal guardians of at least one borrower do not currently and have not previously owned a home in the United States, or at least one borrower has aged out of foster care, or at least one borrower has become emancipated. Funds are limited, and available on a first-come, first-served basis until all funds are exhausted or July 8, 2026, whichever occurs first. In order to apply for the HomeBoost Minority Down Payment Assistance Program, Consumers Credit Union must be providing the financing for purchase. The homebuyer(s) must contribute a minimum or $500 in personal funds toward the purchase, the homebuyer(s) must complete housing counseling. Additional fees may apply. Subject to standard underwriting guidelines. All loans subject to approval. Program subject to change or termination. Federally Insured by NCUA.
