Saving up for a down payment is often the villain in every first-time homebuyer’s story.
You’ve got the steady income, you’re ready to stop making your landlord richer, but that chunk of cash you need upfront? It might as well be guarded by a dragon.
Enter Honor Credit Union with some genuinely good news. They’re teaming up with FHLBank Indianapolis to bring the HomeBoost Down Payment Assistance Program to Indiana and Michigan homebuyers in 2026. Think of it as a financial boost that actually lives up to its name.
What’s the Deal with HomeBoost?
Starting July 8, 2026, qualified buyers can tap into HomeBoost funds to help cover those intimidating upfront costs. The program specifically targets first-time and first-generation homebuyers—people who might have assumed homeownership was reserved for someone else’s life plan, not theirs.
“The HomeBoost program helps open the door to first-time and first-generation home buyers who may have thought it was out of reach for them,” explains Kim O’Donoghue, AVP of Real Estate Sales at Honor Credit Union. “By offering down payment assistance and guidance from our local mortgage experts, we’re helping our community members move forward in the homeownership process with confidence.”
Translation: You get both money and actual human expertise to guide you through the process. It’s not just a check and a “good luck out there.”
Am I Eligible? The Nitty-Gritty Details
Here’s what you need to qualify for HomeBoost funds:
- You must be a first-time homebuyer or first-generation homebuyer
- Apply for mortgage financing through a participating institution like Honor Credit Union
- Your household income needs to fall below 120% of your area’s median income (AMI)—basically, this program is designed for regular folks, not hedge fund managers
- The home must be in Michigan or Indiana and serve as your primary residence (no investment property schemes here)
- Complete an online homebuyer counseling course—think of it as Homeownership 101
- Bring at least $500 of your own money to the table
- Eligible properties include 1-4 unit homes, condos, townhomes, co-ops, and manufactured homes
One important heads-up: funds are distributed first come, first served. So when July 8 rolls around, don’t sleep on this opportunity.
Why This Matters
Programs like HomeBoost represent more than just financial assistance—they’re about removing real barriers that keep people locked out of homeownership. Honor Credit Union continues demonstrating that putting people first isn’t just a mission statement gathering dust in a boardroom. It’s about showing up when it counts, whether that’s for everyday banking needs or life-changing milestones like buying your first home.
Building stronger communities means helping more people plant roots. And sometimes, all it takes is a well-timed boost.
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