2016 Downpayment Plus® Programs Opening March 14
The FHLBC’s Downpayment Plus® (DPP®) and Downpayment Plus Advantage® (DPP Advantage®) programs are opening March 14. FHLBC members may reserve up to $420,000 in 2016 on a first-come, first-served basis to help their income-eligible customers with down payment and closing costs. Program enrollment will open soon.

Click here for step-by-step instructions on how to participate in the 2016 DPP programs

Join Us for a 2016 DPP Programs Webinar
Thursday, March 3: 10:00 a.m. – 11:00 a.m.
Tuesday, March 22: 2:00 p.m. – 3:00 p.m.

Click here to register. Please note the content is the same for each webinar.

About DPP and DPP Advantage
The DPP and DPP Advantage programs provide forgivable grants to assist with down payment and closing costs for households with incomes at or below 80% of the area median income.

Details for 2016 include:

  • The FHLBC is now administering the DPP programs.
  • All program functionalities have been migrated to a new online system.
  • Program participation fees have been eliminated.
  • Enhanced security of data and documents is in place.
  • The maximum grant to eligible households is $6,000.
  • The member limit is $420,000.
  • Reservations are on a first-come, first-served basis.
  • The member must originate or fund the first mortgage.
  • Grants are forgiven on a monthly basis over a five-year retention period.
  • Properties may be in any state in which the member does business.

Contact Community Investment at 312-565-5824 or dpp@fhlbc.com with questions.
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Federal Home Loan Bank of Chicago
200 East Randolph Drive
Chicago, IL 60601
www.fhlbc.com
This newsletter contains forward-looking statements which are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "anticipates," "believes," "expects," "could," "plans," "estimates," "may," "should," "will" or their negatives or other variations on these terms. We caution that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the risk factors set forth in our periodic filings with the Securities and Exchange Commission, which are available on our website at www.fhlbc.com.

Copyright © 2016, Federal Home Loan Bank of Chicago. "Downpayment Plus," "DPP," "Downpayment Plus Advantage," and "DPP Advantage" are registered trademarks of the Federal Home Loan Bank of Chicago. "Community First" is a registered trademark of the Federal Home Loan Bank of Chicago.
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