Launch Program

Launch is a grant program from the Federal Home Loan Bank of Indianapolis that helps first-time homebuyers with assistance for down payment, closing, and housing counseling costs when purchasing a primary residence. Launch funds are exclusively available to households that work with an FHLBank Indianapolis member financial institution, like Heartland Bank.

To qualify¹ for Launch, you must:

• Be a first-time homebuyer. Have a household income at or below 80% area median income (AMI). 
• Contribute a minimum of $500 towards the purchase of the home. 
• Complete a homebuyer education course. 
• Launch funds may be used to cover the cost of homebuyer education. 

How much assistance can I receive? 

• Qualified households may receive up to $20,000 in down payment assistance.
• Launch grant funds cannot be requested for more than 20% of the purchase price of the home. For example, if the purchase price is $60,000, the maximum grant amount that can be requested is $12,000. 

How can Heartland Bank, a division of German American Bank help? 

Heartland Bank is a member of the FHLB Indianapolis, and these funds are available to Heartland as grants to assist their mortgage loan applicants in the homebuying process^*. Homebuyers must apply with one of the FHLB member institutions. We can help you or your client through the entire application process.