Downpayment Plus® Program
The allocation of funds for the 2014 Downpayment Plus
Program has been exhausted.
Welcome to the Downpayment Plus® program. The Downpayment Plus
(DPP™ ) is a downpayment and closing cost assistance program for low
and moderate income homebuyers, funded as a set aside through the
Affordable Housing Program (AHP) of the
Federal Home Loan Bank of Chicago (FHLB). The Illinois League of Financial
Institutions administers the program.
The maximum amount of the grant is $8,000. The only
exception to the amount is if the first mortgage amount is less than
$32,000, then the grant will be reduced to 25% of the first mortgage
| If your financial institution is
a member of the Federal Home Loan Bank of Chicago and is participating in the DPP program, you can use the Loan Officer Login below to apply for funds or perform functions related to previously reserved
Federal Home Loan Bank of Chicago also is offering this year its Downpayment Plus Advantage®
program. The Downpayment Plus Advantage Program is designed for
Habitat For Humanity organizations providing mortgage financing
directly to homebuyers.
FHLB of Chicago members enrolled in the Downpayment Plus program are also
automatically enrolled in the Downpayment Plus Advantage program.
If you are a member institution of the FHLB of Chicago, you can
access the Downpayment Plus and Downpayment Plus Advantage
program screens and view detailed information about the programs as
well as print program documents either for your information or to
complete and fax to the Illinois League of Financial Institutions.
The procedures and documents to be used with the Downpayment Plus
and Downpayment Plus Advantage programs are identical. For more information
about the DPP and DPP Advantage® programs, please read the
Federal Home Loan Bank of
Chicago DPP Program Guide. All necessary forms and
instructions are separate links in the Guide Book.
All forms for the 2014 DPP Program are on page 15 of the
"FHLBC DPP Program Guide."
If you have questions regarding
these programs or have difficulties accessing Downpayment Plus documents,
217-522-5575, ext. 210
Downpayment Plus, DPP, Downpayment Plus Advantage, and DPP Advantage are registered trademarks of
the Federal Home Loan Bank of Chicago.