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Downpayment Plus® Program
Welcome to the Downpayment Plus® program. The Downpayment Plus
program
(DPP™ ) is a downpayment and closing cost assistance program for low
and moderate income homebuyers, funded as a set aside through the
Affordable Housing Program (AHP) of the
Federal Home Loan Bank of Chicago (FHLB). The Illinois League of Financial
Institutions administers the program.
| If your financial institution is
a member of the Federal Home Loan Bank of Chicago and is participating in the DPP program, you can use the Loan Officer Login below to apply for funds or perform functions related to previously reserved
grants.
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The
Federal Home Loan Bank of Chicago also is offering this year its
Downpayment Plus Advantage®
program. The Downpayment Plus Advantage Program is designed for
community-based and
Habitat For Humanity organizations providing mortgage financing
directly to homebuyers.
FHLB of Chicago members enrolled in the Downpayment Plus program are also
automatically enrolled in the Downpayment Plus Advantage program.
If this is your first visit, please read the Downpayment
Plus Program Description.
If you are a member institution of the FHLB of Chicago, you can
access the Downpayment Plus and Downpayment Plus Advantage
program screens and view detailed information about the programs as
well as print program documents either for your information or to
complete and fax to the Illinois League of Financial Institutions.
The procedures and documents to be used with the Downpayment Plus
and Downpayment Plus Advantage programs are identical. For more information
about the DPP and DPP Advantage® programs, please read the Questions
and Answers about the DPP program or the Questions and Answers about DPP
Advantage program.
If you are a consumer who wishes to
learn more about these programs, please go to our online Consumer Centers
for:
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The following online DPP documents present detailed
information about the program. The documents may be downloaded and printed or
viewed online.
DPP Program Information
 | 2008 Changes & Clarifications
(PDF) |
| Program Description (HTML or
PDF) |
| Procedural Steps for Participating in the Program
(PDF) |
| Questions and Answers about Downpayment Plus
program
(PDF) |
| Questions and Answers about Downpayment Plus Advantage
program
(PDF) |
| Eligible Rehabilitation Guidelines (PDF) |
| FHLB of Chicago member bank responsibilities (PDF) |
| Borrower responsibilities (PDF) |
| Sample Marketing Brochure for lenders use (PDF) |
| Sample news release for lenders use (MS
Word) |
| Illinois DPP Income Tables
(PDF) |
| Guide to Reading Income Tables
(HTML) |
|
"Do You Qualify"
Tool |
| List of participating institutions (HTML) |
|
Repayment Calculator |
| Census
Tract Locator |
To download documents to your computer,
Right-Click and choose "Save As".
The following online DPP forms and documents are to be used by
participating institutions accessing the program. You
will need them to create your Downpayment Plus program. You may use the
program procedural steps as a guide. These documents may be downloaded
and printed. Printed documents can be completed, signed as necessary and
faxed (217-789-9115) or mailed to the Illinois League
office.
DPP Documents & Forms
| Downpayment Plus Program Agreement (PDF) |
| Contact Person Form (PDF) |
| Amendment to DPP Program Agreement (FHA loans) (PDF) |
| DPP Income Calculation Guidelines (PDF) |
| DPP Beneficiary Income Questionnaire
(PDF) |
| DPP Income Calculation Worksheet (MS
Excel) |
| Instructions for Completing Questionnaire &
Worksheet (PDF) |
| Homebuyer Counseling Checklist & Certification
Form (PDF) |
| Promissory Note & Rider (MS Word) |
| Mortgage (MS
Word) |
| FHA Mortgage Retention and Subordination Agreement
(Instructions
PDF, Agreement PDF) |
| Co-Signers Statement (PDF) |
| Repayment Worksheet and Notification Form (PDF) |
| HUD approved Pre-Purchase Homebuyer Counseling
services (List
on HUD Web Site) |
| Predatory Lending Brochure
(PDF) |
| DPP Transmittal Checklist
(PDF) |
To download documents to your computer,
Right-Click and choose "Save As".
"Downpayment Plus", "DPP", "Downpayment Plus Advantage", "DPP Advantage"
and "MPF" are registered trademarks of
the Federal Home Loan Bank of Chicago.
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