 The Community Investment Group of the Federal
Home Loan Bank of Chicago (FHLB Chicago) provides financing and direct
funding tools that support the affordable housing and local
community lending initiatives of our members. By using our products
individually or in combination, our members and their community
partners can create economically competitive solutions that
contribute to the quality of life in the communities they serve.
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The HUD Income Guidelines for 2008 have been released.
Please reference these guidelines when qualifying incomes for the Affordable Housing Program (AHP), Downpayment
Plus Program (DPP) and Community Investment Cash Advances (CICA).
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| Affordable
Housing Program (AHP) |
| The AHP provides grants and subsidized
loans to member financial institutions working with affordable
housing providers to finance rental and ownership housing
for low and moderate income households. |
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CICA/Community
Investment Program (CIP)
CIP provides discounted advances
and standby letters of credit to member financial institutions
to finance affordable housing and to help develop and
revitalize communities. |
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Downpayment
Plus® Program
(DPP®)
The FHLB Chicago DPP®
Program provides grants to very low, low and moderate
income homebuyers to assist them with downpayment and
closing costs. |
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| Section
184 Mortgage Program |
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| The FHLB Chicago purchases mortgages
originated by its member financial institutions under
the HUD Section 184 Loan Guarantee Program. |
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CICA/Community
Economic Development Program (CEDA) |
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| The CEDA Program
provides discounted advances and standby letters of credit
to members for community economic development projects,
including but not limited to commercial development, industrial
and/or manufacturing activities, community facilities,
public infrastructure projects, Brownfield development,
and small business development and/or expansion. |
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MPF® Endowment
The MPF® Endowment has been implemented
as a pilot program. The program functions as a flexible source
of funding to support members' community lending initiatives
by offering a funding source that both empowers and pursues
lasting solutions to communities' economic development
needs. |
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| These programs help FHLB Chicago members to better serve their customers, invest in their communities and meet
their community reinvestment goals. |
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Housing
Programs
