Downpayment Plus® Program
The Federal Home Loan Bank of Chicago’s Downpayment Plus® Program offers $10,000 or 25% of the first mortgage amount in down payment assistance (whichever is less) for eligible homebuyers.
program details
- Up to $10,000 or 25% of the first mortgage amount in down payment assistance (whichever is less)
- Homebuyer must contribute at least $1,000 of their own funds
- Homebuyer must live in the home as their primary residence
- Grant is forgivable over a 5-year period
- Funds can be used for down payment or closing costs with available programs: conventional, FHA, VA, and USDA
- Homebuyer education and counseling is required pre-purchase
Funds are limited, so contact your loan originator to get started today!
