INDIANAPOLIS, July 18, 2024 (GLOBE NEWSWIRE) -- After exhausting $2.5 million in just two months in 2023, the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis or the Bank) is relaunching the HomeBoost Down Payment Assistance Program with double the allocation this year — $5 million to help with down payment, closing and counseling costs for minority and first-generation first-time homebuyers. Launched in 2023, the special purpose credit program helped 159 households in Indiana and Michigan to become first-time homebuyers, results that underscored the widespread need for such aid across the Bank's district. This year, HomeBoost has more money available and features expanded eligibility criteria and maximum funding amounts. HomeBoost will provide up to $25,000 in down payment and closing and counseling costs assistance to first-time homebuyers who identify as Black or African American, Asian, Hispanic, Indian American or Alaska Native, and/or Native Hawaiian or Other Pacific Islander, or who qualify as a first-generation homeowner. Eligible households must have a total household income at or below 120% of the local Area Median Income and intend to purchase a primary residence in Indiana or Michigan. According to HUD's Office ...