The Federal Home Loan Bank of Chicago (FHLBank Chicago) has launched the 2026 iteration of its Downpayment Plus and Downpayment Plus Advantage grant programs with a $28 million allocation to help income-eligible homebuyers across Illinois and Wisconsin.
Working in partnership with member financial institutions, the FHLBank Chicago’s programs offer forgivable grants to homebuyers earning up to 80% of the area median income. Eligible households may receive up to $10,000 in assistance, which is applied at closing. The Downpayment Plus Advantage program also partners with nonprofit-led mortgage programs in Illinois and Wisconsin to help secure funding.
“Down payment assistance continues to be a critical resource for addressing barriers to homeownership,” said Katie Naftzger, senior vice president and community investment officer at FHLBank Chicago. “By working alongside our members, the Downpayment Plus programs help individuals and families move from aspiration to action, even as affordability pressures persist across our region.”
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