Downpayment Plus® Program

The 2013 Downpayment Plus® program is now open.  You will not be able to make reservations until we receive the 2013 Program Agreement.

Welcome to the Downpayment Plus® program. The Downpayment Plus program (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 $6,000.  The only exception to the amount is if the first mortgage amount is less than $24,000, then the grant will be reduced to 25% of the first mortgage amount.

The Federal Home Loan Bank of Chicago also is offering this year its  Downpayment Plus Advantage® program.  The Downpayment Plus Advantage Program is designed for community-based and 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 2013 DPP Program are on page 16 of the "FHLBC DPP Program Guide."

Downpayment Plus, DPP, Downpayment Plus Advantage, and DPP Advantage are registered trademarks of the Federal Home Loan Bank of Chicago.