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MORTGAGE

Down Payment Assistance

Mortgage > Mortgage Resources > Down Payment Assistance

Let's Get You Home, Together!

Buying a home is a big step, and we’re here to help make it easier. Down payment assistance programs are designed to give you a boost whether you're a first-time buyer or just need a little extra help. With flexible options and local guidance, we’ll walk you through what’s available and what fits best.

Available Programs

Open Door Grant

Summary

Up to $7,500 toward down payment and closing costs.

Timeframe

Program has reached funding capacity and is currently unavailable.

Purpose

Reduce upfront home purchase costs.

Funder

FSB

Up To Amount

$7,500

Qualification Criteria (Summary)

First-time buyer, 640+ credit score, HUD income limits, DTI <= 45%. 24-month job history. Education required.

Special Eligibility

HUD income limits, must be a first-time buyer.

Learn More

First-Generation DPA

Summary

Up to $25,000 for down payment, closing costs, and escrows.

Timeframe

Pilot; $8M total.

Purpose

Make first-time homeownership attainable.

Funder

MSHDA

Up To Amount

$25,000

Qualification Criteria (Summary)

First-gen buyer, no ownership in 3 yrs. Income & price limits apply. 1% buyer funds. In-person education required.

Special Eligibility

Includes aged-out foster youth & emancipated individuals.

Learn More

MSHDA DPA Grant

Summary

Up to $10,000 for down payment; supports various loan types.

Timeframe

Limited funds; ongoing.

Purpose

Help with down payment on home purchase.

Funder

MSHDA

Up To Amount

$10,000

Qualification Criteria (Summary)

First-time buyers statewide or repeat buyers in targeted areas. 640+ credit. Income & price limits apply. Education required.

Special Eligibility

Targeted areas for repeat buyers.

Learn More

FHLBI Down Payment Assistance Programs

First State is a member lender of the Federal Home Loan Bank of Indianapolis (FHLBI).

Revive Home Repair Grant

Summary

Up to $15,000 for health/safety home repairs.

Timeframe

Subject to funding availability.

Purpose

Home repair and accessibility updates.

Funder

FHLBI

Up To Amount

$15,000

Qualification Criteria (Summary)

Owner-occupied, income ≤ 80% AMI. Current on mortgage/taxes. No credit score required.

Special Eligibility

Homeowners only; FHLBI lender required.

Learn More

Launch

Summary

Up to $20,000 for down payment, closing, and counseling.

Timeframe

Rolling availability; limited funds.

Purpose

Support first-time homebuyers with closing/down payment costs.

Funder

FHLBI

Up To Amount

$20,000

Qualification Criteria (Summary)

First-time buyer, income ≤ 80% AMI, $500 contribution. Education required.

Special Eligibility

Must use FHLBI member lender.

Learn More

Home Boost

Summary

Up to $25,000 assistance with down payment and closing and housing counseling costs for qualified first-generation homebuyers in Michigan and Indiana.

Timeframe

Rolling availability; limited funds.

Purpose

Support qualified first-generation homebuyers with closing/down payment costs.

Funder

FHLBI

Up To Amount

$25,000

Qualification Criteria (Summary)

First-generation and first-time homebuyer (for primary residence in MI or IN). Household income at/below 120% area median income.

Special Eligibility

Must use FHLBI member lender.