Sponsored Content from Federal Home Loan Bank of Chicago
June is National Homeownership Month, a time to celebrate the value of owning a home and to focus on expanding access for more families across Illinois. For many aspiring buyers, the challenge is not readiness or creditworthiness. It is the upfront cost.
That is where awareness and partnership make a difference.
The Federal Home Loan Bank of Chicago (FHLBank Chicago) is expanding access to its Downpayment Plus® (DPP®) Program, which provides up to $10,000 in forgivable grant assistance for down payment and closing costs. For Illinois REALTORS, this is a practical opportunity to connect clients with local lenders who can help make homeownership possible.
A Growing Network Means More Access
Access to these funds depends on one key factor: working with a participating lender.
In June 2026, FHLBank Chicago recently announced that additional member institutions joined the DPP program, expanding the network of financial partners offering this assistance. The added capacity is already making an impact, with new participants supporting households early in the year and demand continuing to build.
For REALTORS, this reinforces the importance of knowing which lenders in your market participate in FHLBank Chicago programs and how to connect buyers to them.
A Simple, Powerful Tool for Buyers
The DPP Program addresses one of the most common barriers to homeownership: the up-front cash required to close.
Through DPP, eligible homebuyers earning up to 80% of area median income may receive up to $10,000 in assistance, applied at closing. The funds are structured as forgivable grants, helping reduce financial strain without increasing long-term debt.
The program is delivered through FHLBank Chicago member institutions, which means REALTORS are often the first point of connection. Introducing buyers to the right lender early in the process can significantly expand their purchasing power.
Since 1994, the program has delivered more than $330 million in assistance, helping over 51,000 households achieve homeownership across Illinois and Wisconsin.
Bobbi Penn and her daughter Naomi celebrate homeownership, supported in part by a $10,000 Downpayment Plus (DPP) grant from FHLBank Chicago in partnership with State Bank of Toulon.
What You Can Do Now
National Homeownership Month is a natural moment to bring these resources into client conversations. Buyers are actively searching, and many are unaware that assistance like this exists.
Consider these actions:
- Identify participating lenders* in your market and build relationships with them
- Introduce down payment assistance early in your buyer consultations
- Share a clear, simple resource with buyers, such as the Downpayment Plus homebuyer flyer, to help them understand eligibility and next steps
- Position yourself as a connector who can guide clients to trusted financing options
- Leverage our marketing flyer
These steps are simple, but they can have a meaningful impact on whether a client moves forward or waits.
Expanding Homeownership, Together
At FHLBank Chicago, we continue to emphasize a clear point: for many households, the primary barrier to homeownership is not qualification. It is the upfront cost.
That reality is familiar to REALTORS across Illinois.
Programs like DPP are designed to close that gap. As the network of participating lenders grows, so does the opportunity to connect more buyers with the support they need.
This National Homeownership Month, we can do more than recognize the importance of homeownership. We can actively expand access to it.
For many Illinois buyers, the path forward is already in place. It starts with the right connection at the right time.
* Any member of FHLBank Chicago may participate. Please reference our Member Directory. If you have a relationship with a member, they may contact [email protected] to request information on how to participate in the program.
“Downpayment Plus” and “DPP” are registered trademarks of the Federal Home Loan Bank of Chicago.
Written by Sharon Gorrell, Assistant Vice President, External Affairs, FHLBank Chicago
