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Downpayment Plus® (DPP)

Are you looking to buy a home? Do you have a steady income and good credit, but just don't know where to get the funds for your downpayment? The Downpayment Plus® (DPP) Program* may be able to help!

Through the DPP, a fully forgiveable grant up to $6,000 may be available to eligible homebuyers in 2018 to use toward downpayment and closing costs.

Homeowners must meet income eligibility requirements and:
  • Receive your first mortgage financing from Bank Five Nine
  • Contribute at least $1,000 to the purchase of the home
  • Participate in homebuyer counseling
  • Live in the home as your primary residence for a minimum of 5 years
Homebuyer Net Contribution Maximum Grant Amount
$1,000 $3,000
$1,500 $4,500
$2,000+ $6,000

 

 

We're committed to helping you purchase your dream home, and utilizing the Downpayment Plus® Program just might give you the advantage you're looking for!

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*Downpayment Plus is a program from the Federal Home Loan Bank of Chicago. Restrictions apply. Please see the Federal Home Loan Bank of Chicago's website at www.fhlbc.com for complete requirements. "Downpayment Plus" is a registered trademark of the Federal Home Loan Bank of Chicago.