First-Generation Buyer Programs
If neither you nor your parents have ever owned a home, you may qualify for up to $15,000+in forgivable grant money through Indiana's HomeBoost program.
This program exists because generational wealth is often built through homeownership — and for families who never had that opportunity, these funds help level the playing field.
A first-generation homebuyer is someone who has never owned a home and whose parents or legal guardians have never owned a home. In Indiana, this definition unlocks access to larger grant amounts — up to $15,000+ — through the FHLBank Indianapolis HomeBoost program.
For many Indianapolis families, renting has been the only option for generations — not because of a lack of work ethic or financial discipline, but because the path to ownership was never clearly explained and the upfront cost felt impossible.
HomeBoost was created specifically to address that gap. If your family has rented for generations, this program may be the most significant financial opportunity you have not yet heard about.
You qualify as first-generation if:
HomeBoost Grant — 2026
Research shows that homeownership is one of the primary ways American families build wealth. Families who have never owned a home have had fewer opportunities to build that wealth — and their children start further behind.
43%
of Black households in Indianapolis rent
vs. 27% nationally — driven in part by historical exclusion from ownership
$15,000+
maximum HomeBoost grant
enough to cover a full down payment on a home under $100,000 in Marion County
5 yrs
to full forgiveness
stay in the home 5 years and the grant balance is completely wiped clean
“The families who have rented for generations deserve a real shot at ownership. HomeBoost is that shot.”
— Tanya Day, Broker/Owner, Elite Realty & Development
Gather documentation showing neither you nor your parents have owned a home. This is verified through self-certification and supporting documentation.
HomeBoost requires a HUD-approved course. These are available online for free or low cost. Save your completion certificate — lenders will request it.
Not every lender carries HomeBoost. You must work with an active FHLBank member lender. Tanya can connect you with lenders who are already set up to process this grant.
The 2026 HomeBoost round opens July 8. Funds are released until depleted. Being ready before the round opens is the difference between getting funded and getting waitlisted.
Once you're pre-approved and your grant reservation is in place, you can shop for your home with confidence. Your Realtor guides you through the offer and negotiation process.
At closing, the grant funds are applied directly to your down payment or closing costs. You receive your keys — and begin the 5-year clock to full forgiveness.
A first-generation homebuyer is someone who has never owned a home AND whose parents (or legal guardians) have never owned a home either. This definition varies slightly by program — some programs also include buyers who grew up in foster care or public housing, regardless of parental ownership history.
Through the FHLBank Indianapolis HomeBoost program, eligible first-generation buyers in Indiana may qualify for up to $15,000+ in forgivable grant assistance toward down payment and closing costs. This is one of the highest grant amounts available in the state for first-time buyers.
The FHLBank Indianapolis HomeBoost 2026 funding round is scheduled to open July 8, 2026. Funding is limited and disbursed on a first-come, first-served basis through participating lenders. Preparing before the round opens — completing homebuyer education, building credit, and getting pre-approved — is essential to access funds before they run out.
The HomeBoost grant is forgivable, meaning if you remain in the home for the required period, the grant balance is completely forgiven. If you sell, transfer, or refinance the property before the required period ends, a portion of the grant may need to be repaid. Your lender and the program administrator will outline the specific terms.
Yes. HomeBoost and similar FHLBank programs are designed to layer on top of government-backed loans like FHA, VA, and USDA loans. Combining a low-down-payment FHA loan with HomeBoost assistance can dramatically reduce the cash you need to close.
Yes — if your parents (or legal guardians) rented throughout your childhood and never owned a home, you meet the first-generation requirement. This program exists specifically to help families break the cycle of renting and begin building generational wealth through homeownership.
HomeBoost is available statewide in Indiana through participating FHLBank member lenders. Marion County (Indianapolis) is fully eligible. The key is connecting with a lender who is an active FHLBank member and familiar with the HomeBoost application process.
Funding is limited and goes fast. The buyers who get funded are the ones who prepare before the round opens. Start now.
