DOWNPAYMENT PLUS PROGRAM | FEDERAL HOME LOAN BANK OF CHICAGO

DPP: - Fund matching program providing down payment/closing cost assistance for eligible homebuyers. - FHLB members may access subsidies of up to $6,000 per household for eligible homebuyers. - May also cover homebuyer counseling costs (up to $500) - May also cover eligible rehabilitation costs associated with the purchase of a home. DPP Advantage: - a statewide effort to promote affordable housing. - assists low and moderate-income home buyers in Illinois with down payment and closing costs. - Up to $6,000 in assistance for the purchase of owner-occupied single family homes. - Funds are forgivable grant without repayment obligation if participant remains in home for 5 years.

Date of Last Formal Update

07/24/2024

Data provided by

PATH Inc. 211

Location

433 W. Van Buren Street, Chicago, IL 60607

Hours

Mon-Fri: 8:30 am - 5:00 pm.

Eligibility

- Must meet income guidelines. - Must contribute at least $1,000 toward the home purchase. - Must complete a pre-purchase homebuyer or homeowner counseling program. - Must use home as primary residence.

Fee

Call for more information.

Agency info

FEDERAL HOME LOAN BANK OF CHICAGO