INDIANAPOLIS — Born and raised in Indianapolis, Atanai Nunez-Samaniego believes in her hometown.
"There's a lot of potential in Indy, especially in the east side," Nunez-Samaniego said.
That is why the 22-year-old bought a house in the area after years of saving up her money.
"Budgeting from an early age," Nunez-Samaniego said, "every paycheck, you put $200, $300 aside."
But she didn't need to use any of that money at closing, in part, because of a new program from her lender, BMO Bank.
"I was thinking I would need about $12,000, maybe $15,000, but I actually brought $0 at close," she said.
BMO, who connected us with Nunez-Samaniego, is offering eligible customers their Welcome Home Grant. The grant offers eligible borrowers up to $13,000 and the money does not need to be paid back.
It is available in a handful of markets, including Phoenix, Chicago and Minneapolis, and the money can go toward closing costs or a down payment.
Jeffrey Leising with BMO said this grant, paired with financial literacy, can create opportunity.
"The minority homeownership gap is a significant challenge across the Indianapolis area, and it really hasn't improved much in the last 50 years," Leising said.
The Indianapolis area also includes other counties.
"Marion County, or the contiguous counties around Marion or the doughnut counties around Marion County can apply," Leising added.
To qualify, the buyer needs to actually live in the home, and the house needs to be located in a low to moderate census tract.
BMO is not the only lender offering this free money, Bank of America also has a similar grant.
Kate Wood with NerdWallet said these types of programs are not necessarily new.
"The technical name for these is special purpose credit programs," Wood said.
Wood added the difference now is that lenders are becoming more vocal about increasing the homeownership in underserved areas.
"We're seeing institutions actually trying to walk the walk as well as talk the talk with their commitments," she said.
Helping people like Nunez-Samaniego keep money in her pocket for whatever homeownership brings next.