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HomeBoost Program

Down Payment Assistance Program

HomeBoost down payment assistance program helps close the homeownership gap by providing grant funding to eligible first-time homebuyers purchasing a home in Michigan.
 

HomeBoost funds are limited and available on a first-come, first served basis.
Funds for 2024 have been exhausted. Please contact us to through the form below to learn about other First Time Homebuyer programs.


Qualifying Criteria:
 
  1. Identify as Black or African American, Asian, Hispanic, Indian American or Alaska Native, and/or Native Hawaiian or Other Pacific Islander; or
  2. Identify as a first-generation homebuyer and meet at least one of the outlined criteria: 
    1. The parents or legal guardians of at least one borrower do not currently and have not previously owned a home in the United States, or
    2. At least one borrower has aged out of foster care, or
    3. At least one borrower has become emancipated
  3. Eligible households must have a total household income at or below 120% of the local Area Median Income as defined by HUD and must intend to purchase a primary residence in Michigan.


Households will be assisted first-come, first-served until funds are exhausted. As a participating FHLBank Indianapolis member financial institution, Mercantile Bank is pleased to oer the HomeBoost program.
 

Submit your information below to get started today! 


The HomeBoost Down Payment Assistance Program is offered through the Federal Home Loan Bank of Indianapolis in conjunction with a mortgage product from Mercantile Bank. Funding is based on availability. Home Ownership course requirements apply. Additional terms and conditions apply based on the mortgage program selected by the applicant. All loans are subject to approval and terms can change. Please consult a Loan Officer for more details. Mercantile Bank NMLS # 419813 

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