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Downpayment Plus® Programs

Downpayment Plus®(DPP®)and Downpayment Plus Advantage® (DPP Advantage®) offer Federal Home Loan Bank of Chicago (FHLB Chicago) members easy-to-access down payment and closing cost assistance programs for low- and moderate-income home buyers. Through these programs, FHLBC Chicago members can assist their customers in achieving home ownership.

Downpayment Plus

FHLB Chicago members enrolled in the DPP Program may access subsidies of up to $10,000 per household on behalf of eligible home buyers to whom they are providing first mortgages. The subsidy may be used for down payment and closing cost assistance, home buyer counseling costs (up to $600), and/or eligible rehabilitation costs associated with the purchase of a home. Household income and other restrictions apply. Please review the Downpayment Plus Program Frequently Asked Questions for more information.

Downpayment Plus Advantage

The DPP Advantage Program is designed for households participating in home ownership programs offered by non-profit organizations that provide mortgage financing directly to the home buyer, such as Habitat for Humanity.

The non-profit organizations must partner with an FHLB Chicago member to access the DPP Advantage program.

FHLB Chicago members enrolled in the DPP Advantage Program may access subsidies up to $10,000 per household on behalf of eligible home buyers. Like the DPP Program, the DPP Advantage subsidy may be used for down payment and closing cost assistance, financial literacy, and home buyer counseling costs (up to $600), and/or eligible rehabilitation costs associated with the purchase of a home.

Household income and other restrictions apply. Please refer to DPP Advantage Frequently Asked Questions for details.

Repayment of Subsidy

Under certain circumstances, grant recipients may be required to return DPP subsides to the FHLB Chicago.

Checks should be made payable to or endorsed to the FHLB Chicago, and mailed with a completed repayment worksheet to the following address:

Federal Home Loan Bank of Chicago
Community Investment Group
200 East Randolph Drive
Chicago, IL 60601

Downpayment Plus Programs are administered by:

In Illinois:	Illinois League of Financial Institutions
	(800) 237-1936; www.ilfi.org
In Wisconsin:	Wisconsin Partnership for Housing Development
	(888) 318-4486; www.wphd-dpp.org

Related Information
DPP FAQ DPP Advantage FAQ DPP Income Calculation Guidelines DPP Income Calculation Worksheet DPP Repayment Worksheet DPP Program Presentation HUD Income Guidelines Federal Regulation 12 CFR Part 1291 Participating FHLBC Members WI Participating FHLBC Members IL