FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Contact a Relationship Manager.
Our knowledgeable and friendly Relationship Managers are here to assist you throughout the mortgage process. Get personalized guidance tailored to your needs.
Downpayment Plus Program
Helping eligible buyers make homeownership a reality.
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 qualify.
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
Bank First NMLS #433854. View NMLS Listing.
All loans are subject to credit approval and property eligibility. Terms, conditions, and program requirements apply.
*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/community-investment/downpayment-plus-programs for complete requirements. “Downpayment Plus” is a registered trademark of the Federal Home Loan Bank of Chicago.