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Downpayment Plus Program

Lower Your Borrowing Costs

If you want to buy a home and have a steady income and good credit, Bank First and the Federal Home Loan Bank of Chicago can help! Through the Downpayment Plus® Program*, up to $10,000 may be available to eligible homebuyers to use toward down payment and closing costs. Ask one of our Relationship Managers today about the Downpayment Plus® Program to see if you are eligible.

What is Downpayment Plus®?

Downpayment Plus® is a program that provides down payment and closing cost assistance for income-eligible homebuyers. The assistance is provided in the form of a forgivable grant paid on behalf of the borrower at the time the borrower closes on mortgage financing with a participating FHLBank Chicago member financial institution. Grants are forgiven on a monthly basis over a five-year retention period.

How To Get Started

Homebuyers must meet income eligibility requirements and:

  • Contribute at least $1,000 to the purchase of the home
  • Complete pre-purchase homebuyer education and counseling
  • Live in the home as your primary residence

Our Relationship Managers are here to help!

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