Add SWF file to wordpress through custom template

wordpress is not alowing me to upload the swf file into the media library

Actually you can insert this code to the functions.php:

add_filter('upload_mimes', 'add_custom_upload_mimes');
function add_custom_upload_mimes($existing_mimes){
    $existing_mimes['swf'] = 'text/swf'; //allow swf files
    return $existing_mimes;
}

Then you try to upload your swf file to the media library.

As for homepage, you can install a plugin, Ultimate TinyMCE. Copy the file url from media library and paste to the homepage by searching for a button “insert/edit embedded media” and click “insert”.

I think you will be able to get what you want.