Skip to content
close search window

FHLBI HomeBoost Program

See how the HomeBoost Program could help you

The HomeBoost Down Payment Assistance Program is available to first-generation and first-time homebuyers who meet certain eligibility criteria. Qualifying households may receive up to $20,000 in down payment and closing cost assistance.

House Illustration
HomeBoost

What is HomeBoost?

HomeBoost is a special purpose credit program (SPCP) offered by the Federal Home Loan Bank of Indianapolis (FHLBank). Christian Financial is a member of the FHLBI, and can apply for their grants on behalf of our members.

Qualifications

Qualifications for HomeBoost Grant Funding

To qualify, you must be a first generation, first time homebuyer – and meet other qualifications listed below.

Family_Home

First-Generation Homebuyer

Applicants must meet one of the following qualifications

  • The parents and/or legal guardian of at least one borrower does not currently own a home in the United States and has not previously owned a home in the United States;
  • At least one borrower has aged out of foster care; or
  • At least one borrower has become emancipated.
In_Home_Mode

First-Time Homebuyer

  • An individual who has had no ownership in a principal residence during a three-year period ending on the date of the purchase of the property.
Payments

Household Income Requirements

In addition to one of the above criteria, applicants must also meet income requirements. For example, for a family of four in Wayne, Oakland or Macomb counties, your household income must be at or below $125,760, and for a one-person household, the income must be at or below $88,050.

Fact_check

Pre-Approved

Must be pre-approved by our mortgage company, Mortgage Center.

Travel_Explore

Purchase Location

Applicants must be purchasing a home within Michigan.

menu_book

Mortgage Education

Homebuyer(s) must complete homebuyer education, and must contribute a minimum of $500 in personal funds toward the home’s purchase transaction.

Interested in Learning More?

Complete our interest form and someone from Mortgage Center will be in touch with you shortly. This information is being solicited to determine program eligibility for HomeBoost and for no other purpose.









Are you a first generation home buyer?:
What is your annual household income?:
How many people live in your household?:

Want to Chat?

We're here anytime you need us.

Frequently Asked Questions

How much in grant funds are available?

expand accordion toggle

Qualified applicants could receive up to $20,000 in down payment or closing cost assistance. Funds are first-come-first-served, and will continue until depleted.

How is "First Generation" being defined for purpose of eligibility?

expand accordion toggle

For the purposes of the HomeBoost eligibility criteria, “First Generation” means homebuyer(s) who self-certify that:

  • The parents and/or legal guardian of at least one borrower does not currently own a home in the United States and has not previously owned a home in the United States,
  • At least one borrower has aged out of foster care, or
  • At least one borrower has been emancipated

How is "First Time Homebuyer" being defined for purpose of eligibility?

expand accordion toggle

An individual who has had no ownership in a principal residence during a three-year period ending on the date of the purchase of the property.

When does this program end?

expand accordion toggle

There are a limited number of grant funds available. Eligible households will be assisted on a first-come, first-served basis until funds are exhausted.