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