Illinois League of Financial Institutions
 


   

Downpayment Plus® Program
FHLBC DPP Program Guide
Do You Qualify? Tool
Census Tract Locator
Participating Institutions

 

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 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 $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 amount.

 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 grants.
bulletLoan officer login

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.

bullet2014 Grant Approval Documents Checklist
bullet2014 DPP Transmittal Checklist-Closings
bullet2014 DPP Program Instructions
 

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, please contact: 

Jackie Billings
217-522-5575, ext. 210
Fax: 217-789-9115
Email: jbillings@ilfi.org

 

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

 
   

Mark your calendar for the League's 136th
 annual convention

September 20-23, 2015 

Belmond Charleston Place 

Charleston, South Carolina

 

Copyright 2014 Illinois League of Financial Institutions
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