Make the Dream of Homeownership a Reality

IMPORTANT:  2024 HOP grant funds have been fully allocated.  Please feel free to check back for 2025 HOP grant details in the spring of 2025!


The Homeownership Opportunity Program (HOP) grant helps first-time homebuyers with assistance for down payment, closing costs and counseling costs.

Up to $20,000 per household may be requested.

Funds are available on a first-come, first served basis, until funds are exhausted. Funds renew each year in the spring, subject to availability.  2024 HOP Grant funds have been fully allocated.


To qualify for a HOP grant you must:

Be a first-time homebuyer* at or below 80% area median household income;  HUD Income Limits

Purchase a single-family home, condominium, duplexes, or modular unit;

Contribute a minimum of $500 towards the purchase of the home;

Complete a required state, HUD, or FHLBank Indianapolis-approved homebuyer counseling course; – HOP funds may be used to cover the cost of counseling

Total housing debt including principal, interest, taxes and insurance (and any HOA dues) not to exceed 40% of total household gross income

The HOP grant can be used in conjunction with any eligible purchase mortgage and borrower must meet all Fannie/Freddie loan eligibility and requirements.

Income must be evaluated on a per household basis, considering all persons that will be living in the home, and must be at or below 80% of the HUD area median income limit, based on household size and geographic location.

Borrowers will sign a retention agreement at close; if the home is sold in the first five years a portion of the grant will need to be returned, calculated on a pro-rated basis.