Community First® Housing Counseling Resource Program
The Community First® Housing Counseling Resource Program (Housing Counseling Resource Program) provides grants to housing counseling agencies in Illinois and Wisconsin to facilitate expanded service to low- and moderate-income and underrepresented homebuyers and existing homeowners.
Two FHLBank Chicago housing associates, Illinois Housing Development Authority (IHDA) and Wisconsin Housing and Economic Development Authority (WHEDA), administer the Housing Counseling Resource Program on behalf of FHLBank Chicago.
Providing Pathways to Homeownership
Angela and Luis, a hardworking couple in their mid-50s who immigrated to Illinois from Colombia in 2020, decided to pursue homeownership for the first time after facing years of increasing rent. FHLBank Chicago member, Midland States Bank, referred them to Consumer Credit Counseling Service, a beneficiary of our Housing Counseling Resource Program in partnership with IHDA. They received pre-purchase counseling which enabled them to receive $10,000 in down payment assistance through our DPP Program. Angela and Luis proudly achieved the American Dream, closing on their home in Elgin, Illinois in September 2023. Their journey underscores the transformative impact of accessible housing counseling and down payment assistance in achieving homeownership.
Building Partnerships With Housing Counseling Agencies
Hear from FHLBank Chicago members on how they've built partnerships with housing counseling agencies and leveraged our Downpayment Plus (DPP®) Program to support homeownership in their communities.