Homeownership is Possible!
Funds for the 2025 Downpayment Plus grant program through the Federal Home Loan Bank Chicago are now available, and NEBAT can help you determine eligibility. Learn more.
On February 18, 2025, the Federal Home Loan Bank Chicago published a news post to announce the Downpayment Plus (DPP) grant programs have been renewed for 2025 with $46 Million available to support homebuyers in Wisconsin and Illinois.
Are you looking to buy a home this year but are worried about the downpayment or closing costs? The Downpayment Plus® (DPP®) grant program may be the answer for you!
The Downpayment Plus program is a grant program offered by the Federal Home Loan Bank of Chicago (FHLBank Chicago). The DPP program provides downpayment and closing cost assistance in the form of forgivable grants to income-eligible homebuyers. Eligibility is determined by a potential homebuyers earnings and is based on the area median income.
The grant is paid on behalf of the borrower at the time of the mortgage closing, and it is forgiven on a monthly basis over a five-year retention period. The maximum grant amount is the lesser of $10,000 or 25% of the first mortgage amount.
The process can be broken down into five steps:
If you believe the Downpayment Plus program could benefit you, reach out to your local lender to start the conversation today!