For many first-time homebuyers, saving for a down payment can be one of the biggest hurdles to purchasing a home. ChoiceOne Bank is a member of the Federal Home Loan Bank of Indianapolis (FHLBI) LAUNCH Down Payment Assistance Program, which is designed to help overcome that barrier by providing meaningful financial support to qualified buyers. 

How Much Assistance Is Available? 
Eligible first-time homebuyers may receive up to $20,000 in grant assistance to help cover: 

• Down payment costs 

• Closing costs 

• Housing counseling expenses 

• Buyerbroker fees 

These funds are provided as a grant, not a loan, meaning they do not need to be repaid when program requirements are met. Funds are available annually and awarded on a first come, first-served basis, so early application is encouraged.  

Who Qualifies for the LAUNCH Program? 
To be eligible for LAUNCH down payment assistance, homebuyers must: 

• Be a first-time homebuyer 

• Have a household income at or below 80% of the Area Median Income (AMI) 

• Contribute a minimum of $500 toward the home purchase 

• Complete an approved prepurchase homebuyer education course 

• Work with ChoiceOne Bank, a participating FHLBI member  

Opening the Door to Homeownership 
The LAUNCH program reflects FHLBank Indianapolis’ commitment to strengthening communities by expanding access to homeownership. By reducing upfront costs, LAUNCH helps qualified buyers take a confident step toward owning a home, often sooner than they thought possible.  

If you’re considering buying your first home, connect with ChoiceOne Bank, a participating lender, to find out whether the LAUNCH Down Payment Assistance Program could help you get there faster. 

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