The Federal Home Loan Bank of Indianapolis has awarded $34.1 million in grants to 43 development projects. This total is slightly below the bank’s 2024 single-year record for affordable housing funding, according to the City of Detroit.
The recent funding announcement continues the bank’s support, dating back to 1990, for housing affordability initiatives. The grants help cover financing gaps for the purchase, construction, or renovation of housing intended to remain affordable. The Affordable Housing Program (AHP) provides grants of up to $1 million through an annual competitive process, in which project sponsors, in partnership with FHLBank Indianapolis member institutions, apply for funding to advance their projects.
FHLBank Indianapolis provides funding through the Affordable Housing Program and other community initiatives in partnership with member financial institutions and community stakeholders. The 2025 AHP funds are expected to support the creation or renovation of 1,578 affordable housing units.
The 2025 funding round awarded over $34.1 million across 43 projects, including three projects focused specifically on homeownership. The full list of 2025 AHP awards is available to the public. Additional information on FHLBank Indianapolis’s role in supporting affordable housing and community programs in Indiana and Michigan can be found on the bank’s website in the community programs section.
