Is there a way to use $front_page in node.tpl? I'm aware that $front_page is a variable used in page.tpl, but is there a way to use it (or something similar other than a direct link) to print the index url in a node.tpl?
Absolutely:

function MYTHEME_preprocess_node(&amp;$vars) {
  $vars['front_page'] = url();
}