HomeBoost Grant Program Opens July 8 for First-Time Homebuyers in Michigan

First-time and first-generation homebuyers in Michigan have a new opportunity to overcome one of the biggest barriers to homeownership. The HomeBoost Down Payment Assistance Program, offered through Honor Credit Union in partnership with the Federal Home Loan Bank of Indianapolis, opens for applications on July 8, 2026.

What Is the HomeBoost Program?

The HomeBoost program provides grants to help qualified buyers cover down payment costs, making homeownership more accessible for those who struggle to save for upfront expenses. The program operates on a first-come, first-served basis and is available to eligible buyers in both Michigan and Indiana.

Honor Credit Union, which serves communities throughout southwest Michigan, is participating as a lending partner. Interested buyers can learn more and begin the application process through Honor Credit Union's HomeBoost page.

Who Qualifies for HomeBoost?

To be eligible for the program, applicants must meet several criteria:

• Be a first-time homebuyer or first-generation homebuyer
• Apply for mortgage financing through a participating lender like Honor Credit Union
• Have a household income below 120% of the area median income
• Purchase a home in Michigan or Indiana to use as a primary residence
• Complete a homebuyer counseling course
• Contribute a minimum of $500 toward the purchase

Eligible properties include single-family homes with up to four units, condominiums, townhomes, co-ops, and manufactured homes.

How to Apply

While membership with Honor Credit Union is not required to apply, it is necessary at the time of loan closing. Applicants can get preapproved for a mortgage before becoming members.

Honor Credit Union encourages interested individuals to schedule a consultation with a local mortgage lender to discuss eligibility and begin the application process. The Federal Home Loan Bank of Indianapolis administers the grant funding.

Applications open July 8, 2026, and interested buyers are encouraged to prepare their documentation early, as funds are awarded on a first-come, first-served basis.

Frequently Asked Questions

Q: When does the HomeBoost program open for applications?
A: The HomeBoost Down Payment Assistance Program opens for applications on July 8, 2026. Funds are awarded on a first-come, first-served basis to qualified buyers in Michigan and Indiana.

Q: Do I need to be a member of Honor Credit Union to apply for HomeBoost?
A: No, membership is not required to apply, but you must become a member at loan closing. You can get preapproved for financing before joining.

Q: What types of homes qualify for the HomeBoost grant?
A: Eligible properties include homes with up to four units, condominiums, townhomes, co-ops, and manufactured homes. The home must be in Michigan or Indiana and used as your primary residence.