2018 Downpayment Plus® Programs Opening Soon

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Downpayment Plus^® Programs Opening Soon
February 2, 2018 The Federal Home Loan Bank of Chicago’s (FHLBank Chicago) Downpayment Plus^® (DPP^®) and Downpayment Plus Advantage^® (DPP Advantage^®) programs will open March 12, 2018. Participating FHLBank Chicago members may reserve up to $420,000 in the general pool on a first-come, first-served basis to help their income-eligible borrowers with down payment and closing costs. There is no limit in the Advantage pool. Members with executed program agreements from 2017 do not need to re-enroll for 2018. There are two significant changes to the 2018 DPP programs: 1) All DPP-assisted homebuyers are required to complete pre-purchase education delivered by an organization that has adopted the National Industry Standards for Homeownership Education and Counseling’s (NIS) homeownership education standard or by an online provider approved by the FHLBank Chicago. More details about this new requirement are available on FHLBank Chicago’s website. 2) For the DPP Advantage Program, the property may now be located in any state where the FHLBank Chicago member does business. Previously, the property had to be located in Illinois or Wisconsin. Community Investment staff will host three webinars focused on the 2018 Downpayment Plus^® programs; click here to register. The three webinars include the same content. Tuesday, March 6: 2:00 p.m. – 3:00 p.m. Thursday, March 8: 10:00 a.m. – 11:00 a.m. Tuesday, April 3: 10:00 a.m. – 11:00 a.m. Please contact Community Investment at 312-565-5824 or dpp@fhlbc.com with any questions.
Federal Home Loan Bank of Chicago
200 East Randolph Drive Chicago, IL 60601 www.fhlbc.com	Copyright © 2018, Federal Home Loan Bank of Chicago. "Community First" is a registered trademark of the Federal Home Loan Bank of Chicago.
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