Community Advance

• Up to $200,000 in interest rate subsidy available (at the holding company level).

• Qualifying activities that have closed 90 days from the advance draw can be eligible — meaning you may already have eligible loans to use in 2026.

Downpayment Plus^® Programs

• Access up to $1 million per program to support mortgage customers or nonprofits providing mortgage financing.
  • Downpayment Plus^® — Forgivable grants up to $10,000 per borrower to help income-eligible individuals and families achieve homeownership. 
  • Downpayment Plus Advantage^® — Designed for nonprofits (e.g., Habitat for Humanity) that provide mortgage financing. Nonprofits partner with an FHLBank Chicago member to access these funds.
  • Register for one of our upcoming webinars to learn more. 

Affordable Housing Program (AHP) General Fund

• Provides up to $2 million in grants to subsidize acquisition, new construction, or rehabilitation of affordable rental or owner-occupied housing. Eligible partnerships include for- and not-for-profit developers, community organizations, government entities, public housing authorities, and tribal governments. 
• Competitive round applications will be accepted through 5 p.m. CT on Friday, June 12. 
• Stay tuned for more updates, including subsidy amounts for each product and program, as well as ways to help you maximize these opportunities. In the meantime, if you have any questions, please reach out to me directly.