Downpayment Plus® Consumer Center

Welcome to the Downpayment Plus® Consumer Center, your information source for the Chicago Federal Home Loan Bank’s (CFHLB) Affordable Housing Program (AHP) Set-Aside for 2005. The Wisconsin Partnership for Housing Development (WPHD) is working with the CFHLB to administer the programs for Members headquartered in Wisconsin. The (CFHLB) Affordable Housing Program (AHP) Set-Aside is divided into 3 parts. Below are links to the Questions and Answers document for each program:

1. Downpayment Plus® (DPP)
2. DPP First-Time Homebuyer
3. DPP Advanatage

Basic Borrower Responsibilities for ALL DPP Programs

• Earn household income at or below 80% of area median income. [See if you qualify]
• Participate in homebuyer counseling.
• Sign 5-year retention agreement.
• Notify lender of refinance or sale of property, and repay pro rata portion of AHP subsidy as necessary.
• Use the home as their primary residence.

For DPP First-Time Homebuyers Program

All borrowers must be first time home buyers. First-Time Homebuyer definition – As defined by the CFHLB as a household meeting at least one of the following criteria:

1. An unmarried individual or an individual and his or her spouse who have not owned a home during the three-year period prior to the date of purchase of a home with AHP assistance; or
2. A divorced or legally separated individual who has only owned with a former spouse; or
3. An unmarried individual or an individual and his or her spouse who has only owed a property that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.

For the DPP Advanatage Program

The Downpayment Plus Advantage program is a downpayment and closing cost assistance program for low and moderate-income home buyers who are participating in home ownership programs offered by nonprofit organizations that provide mortgage financing directly to the home buyer, such as Habitat for Humanity. The nonprofit organization should contact a participating Member to reserve DPP Advantage funding.

Please note that for DPP Advantage program only borrowers are NOT required to contribute $750 toward the purchase of the home. No borrower contribution is required.

Who is eligible to receive a Downpayment Plus grant?

Use the form below to find the program qualification income limits for your state, county, and the number of members in your household. [Terms of Service]

State:	IL WI MN IA MI
Household Members:	People

The program is available to home buyers with a combined annual household income at or below 80% of the median household income of the area where the property is located, adjusted for family size. The borrower must contribute $750 toward the purchase of the home. The purchaser(s) must complete a home buyer or homeowner counseling program prior to receiving grant funds, and sign a certificate of eligibility that certifies their income. The borrower is not eligible to receive AHP funds within 30 months of receiving a Downpayment Plus subsidy for the same home.

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