FHLBank Chicago Downpayment Plus (DPP) Program

Ang FHLBank Chicago Downpayment Plus (DPP) Program ay isang loan na mapapatawad para sa mga bibili ng bahay sa Statewide, Illinois, na pinangangasiwaan ng Federal Home Loan Bank of Chicago. Downpayment Plus (DPP) is a set-aside program of the Federal Home Loan Bank of Chicago providing forgivable grants of up to $10,000 (or 25% of first mortgage amount, whichever is less) for down payment and closing costs to income-eligible homebuyers (at or below 80% AMI) purchasing in Illinois or Wisconsin through participating FHLBank Chicago member lenders. Grants are forgiven pro-rata over a 5-year retention period. Borrower must contribute minimum $1,000 and complete both pre-purchase homebuyer education and HUD-approved counseling. Up to $10,000 forgivable grant. No interest on grant. Stackable with state/local/federal programs. Broad eligible mortgage product list. Manufactured homes eligible. 2-unit properties eligible. Land trust units eligible. Ang pondo ay mula sa Federal Home Loan Bank of Chicago AHP set-aside funds.

Nag-aalok ang FHLBank Chicago Downpayment Plus (DPP) Program ng tulong na hanggang $10,000. Mga award tier: None; single tier. Ambag ng bibili ng bahay: Minimum $1,000 from borrower's own funds toward purchase transaction. Cash back at closing reduces contribution; more than $250 cash back deducted from reimbursement. Contribution may be earnest money, cash at closing, or costs paid outside closing. Maaaring isama ang programa sa Federal, state, and local grants or loans including CDBG, HOME, IHDA programs; DPP Advantage for nonprofit mortgage partners. Ang mga halaga ay ang pinakamataas na inilathala ng programa, hindi isang alok — ang Federal Home Loan Bank of Chicago ang nagpapasya sa anumang indibidwal na award.

Pinapatawad ang FHLBank Chicago Downpayment Plus (DPP) Program pagkalipas ng 5 taon, kaya hindi na ito babayaran ng bibili ng bahay na mananatili nang ganoon katagal. Kailangang bayaran kapag may Sale or refinance before end of 5-year retention period unless buyer is also <=80% AMI; forgiven pro-rata monthly over 60 months; no repayment if amount due is $2,500 or less. Nakatala ang tulong bilang lien sa posisyong Second lien (retention agreement recorded on property). Ang mga tuntunin sa pagpapatawad at pagbabayad ay itinatakda ng programa at maaaring magbago — kumpirmahin ang mga ito sa opisyal na pahina ng programa bago mag-apply.

Bukas ang FHLBank Chicago Downpayment Plus (DPP) Program sa mga bibili ng bahay na titira sa bahay bilang pangunahing tirahan. Tungkol sa credit, sinasabi ng programa: No minimum credit score stated by DPP; lender underwrites first mortgage per their own standards. DTI >45% requires AUS approval or written affordability explanation. Kailangan ang kurso sa homebuyer education, sa pamamagitan ng Pre-purchase education: HUD-approved counseling agency OR Framework, eHome America, Fannie Mae HomeView, Freddie Mac CreditSmart. Pre-purchase counseling: HUD-approved counseling agency only. Both education AND counseling required; certificates required for at least one borrower. Requirement sa paninirahan: Property must be purchased as borrower's primary residence; property may be in any state where member does business. FHLBank Chicago member must execute DPP Program Agreement and annual certification. Borrower must not receive more than $250 cash back at closing. Co-signers/guarantors/non-occupying co-borrowers render transaction ineligible. Interest-only mortgages ineligible. Loan term minimum 5 years. Member disburses grant at closing before receiving FHLBank reimbursement (~3-4 week processing). Member responsible for 5-year retention servicing even if first mortgage sold.

Nililimitahan ng FHLBank Chicago Downpayment Plus (DPP) Program ang kita ng sambahayan sa 80% ng median na kita sa lugar, na nag-iiba ayon sa county at laki ng sambahayan. Nalalapat ang limit sa kabuuang kita ng sambahayan, hindi lang sa kita ng nanghihiram. Ang mga numero ng median na kita sa lugar ay inilalathala ng HUD at ina-update taun-taon, kaya tingnan ang kasalukuyang talahanayan para sa county bago umasa sa isang numero.

Ganito nililimitahan ng FHLBank Chicago Downpayment Plus (DPP) Program ang presyo ng pagbili: No stated purchase price limit; sales price may not exceed appraised value for related-party or REO transactions. Kabilang sa mga kwalipikadong uri ng ari-arian ang single-family, two-unit, condominium, at manufactured home (titled as real estate). Kwalipikado ang bagong gawang bahay. Kwalipikado ang mga manufactured home.

Pinaglilingkuran ng FHLBank Chicago Downpayment Plus (DPP) Program ang mga bibili ng bahay sa Statewide, Illinois.

Dumadaan sa Federal Home Loan Bank of Chicago ang mga aplikasyon para sa FHLBank Chicago Downpayment Plus (DPP) Program, na naglalathala ng kasalukuyang mga tuntunin at mga hakbang sa pag-apply sa sarili nitong site. Nirereserba ang pondo sa pamamagitan ng First-come, first-served via DPP Online (eBanking portal); reservations available until member limit exhausted or last business day in December. Ang Hey Prescott ay hindi nagpapautang at hindi tumatanggap ng aplikasyon; inilalarawan ng pahinang ito ang programa para madala ito ng bibili ng bahay sa isang lender o housing counselor.