What is HOP?
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, made possible by FHLBank Indianapolis, are available on a first-come, first served basis.
To qualify for a HOP grant you must:
- be a first-time homebuyer (no ownership of a principal residence within past three years ending on the date of the purchase of the property);
- at or below 80% area median income (per HUD.gov);
- purchasing a single-family home, condominium, duplex, or modular unit;
- contribute a minimum of $500 towards the purchase of the home;
- complete a required home buyer counseling course;
- HOP funds may be used to cover the cost of counseling
- HOP funds may be used to cover the cost of counseling
Contact our mortgage team to learn more!
Brenda Keen
Mortgage Loan Originator
Office Phone: (765) 334-4149
Email: bkeen@waynebnk.com
NMLS #955574
*Total household income cannot exceed 80% of area median income per HUD.gov. Geographical limitations & additional qualifications may apply. Program details subject to change without notice. Subject to credit approval. Property insurance required. Rates are subject to change daily. Limited time offer.
