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Up to $20,000 for Your Down Payment

In partnership with Federal Home Loan Bank of Indianapolis, this annual program helps cover down payments, closing costs, and housing counseling for first-generation, first-time homebuyers—making the path to homeownership more accessible for our community.

Down payment assistance for first-generation, first-time homebuyers.

Take a joyful step toward homeownership.

At Members First Credit Union, we believe homeownership is more than a milestone—it’s a meaningful step toward building a life you love. That’s why we’re excited to offer the HomeBoost Down Payment Assistance program, designed to help first-generation*, first-time homebuyers move forward with confidence.

In partnership with the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), qualifying households may receive up to $20,000 in down payment and closing cost assistance.

 

Funding opens July 8, 2026, and is available on a first-come, first-served basis. Eligible first-time homebuyers who meet the program’s requirements are encouraged to apply early to take advantage of this opportunity.

 

Through the HomeBoost Down Payment Assistance program, qualified buyers can receive grant funds to help cover essential home-buying costs. To be eligible, applicants must:
  • Be a first-generation* AND a first-time homebuyer
  • Qualify for a mortgage with Members First Credit Union and intend to purchase a primary residence in Michigan
  • Have a household income at or below 120% of the Area Median Income (AMI)
  • Complete an approved homebuyer education course
  • Contribute a minimum of $500 toward the home purchase

 

This program reflects our commitment to empowering our members with the resources, guidance, and support they need on their journey to financial well- being. Because when you have the right tools and support, you can move forward with purpose—and find joy in every step along the way.

To learn more about the HomeBoost Down Payment Assistance Program and check your eligibility, reach out to our mortgage team today at 855.835.6328 ext. 1750.

Subject to credit approval. Other qualifying restrictions may apply.

If a HomeBoost-assisted home is sold or refinanced within the five-year retention period, a portion of the grant funds received may need to be returned.

*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.

 

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