Home Buyer Resources FVSBank

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Federal Home Loan Bank of Chicago Down Payment Assistance Program: FVSBank partners with FHLBC (Federal Home Loan Bank of Chicago) to bring you the Downpayment Plus® Program*. If you’re looking to buy a home and have a steady income and good credit, FVSBank and the Federal Home Loan Bank of Chicago are here to assist you.

With the Downpayment Plus® Program*, eligible homebuyers can receive up to $10,000 to help cover down payment and closing costs. Contact one of our loan officers today to find out if you qualify for the Downpayment Plus Program.

To be eligible, homebuyers must:

Meet income eligibility requirements
Contribute at least $1,000 to the purchase of the home
Complete pre-purchase homebuyer education and counseling
Live in the home as their primary residence

FVSBank is dedicated to supporting our community. If you qualify for the Downpayment Plus Program, we can help reduce your borrowing costs.

*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 for complete requirements. “Downpayment Plus” is a registered trademark of the Federal Home Loan Bank of Chicago.

WHEDA Down Payment Assistance

Down Payment Assistance is one of the programs available from WHEDA to help you buy a house. At FVSBank, we are happy to offer the WHEDA Easy Close DPA program, which must be paired with a WHEDA mortgage loan. The details of this program are:

Borrow between $1,000-6% of the purchase price
10-year fixed rate second mortgage with a monthly payment
Interest rate is the same as on the first mortgage
Total Household Compliance Income limits apply
Max HCLV of 105%, which means that you can finance 100% of the purchase price and some or all of the closing costs, too.

Home Buyer Resources

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