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FHLBank Chicago Appoints Kahya Fox to Community Investment Advisory Council
FHLBank Chicago is pleased to announce the appointment of Kahya Fox, Executive Director of Habitat for Humanity of the Greater La Crosse Region, to its Community Investment Advisory Council (Advisory Council) for a three-year term. Fox brings more than 20 years of experience in housing and community development, with a career centered on expanding the supply of safe, affordable, and energy-efficient housing for low- and moderate-income individuals and families.
In addition, FHLBank Chicago has reappointed David Doig, Kristin L. Faust, Beth Haskovec, Elmer Moore Jr., and Idowu O., whose continued leadership helps shape our efforts to promote affordable housing and community lending across Illinois and Wisconsin. Read the full announcement here.
Register for a 2026 AHP Learning Opportunity
It’s time to start planning for the 2026 Affordable Housing Program (AHP) General Fund, which is opening Monday, May 4, 2026. The 2026 AHP Implementation Plan is available on our website.
2026 Implementation Plan Significant Changes
- Updated scoring formula for owner-occupied projects within the income-based Targeting scoring category to increase opportunities for projects serving households between 60% - 80% AMI.
- Updated variable point allocations within the Projects Serving Low-Income Areas and Creating Economic Opportunity Through Mixed-Income Areas scoring categories.
- Added Unaccompanied Youth as an eligible population within the Housing for Special Needs Populations scoring category.
- Revised the eligibility criteria for the Operational Efficiency scoring category.
- Updated eligibility criteria for the Emerging Project Sponsors scoring category.
- Updated application eligibility rules related to prior AHP awards.
- Clarified guidance on the use of sales proceeds in related party transactions.
New this year, we are offering separate AHP Webinars for rental and homeownership applications. Both sessions will cover project eligibility, financial feasibility, and scoring. Potential AHP project sponsors, FHLBank Chicago member institutions, real estate developers, and consultants are encouraged to attend. See registration information below.
- AHP Webinar Overview for Rental Projects: Wednesday, April 1 from 10-11:30 a.m.
AHP Webinar Overview for Owner-Occupied Projects: Thursday, April 2 from 10-11:30 a.m.
Those with previous AHP experience can register for our Experienced Users Webinar on Wednesday, April 8 from 10 – 10:30 a.m. This webinar will cover rental and homeownership applications, focusing on significant changes for this year’s program. For those unable to attend, we will also be producing a series of recorded webinar presentations covering the same content, which will be available on our website in April.
MPF® Habitat for Humanity® Program
The Mortgage Partnership Finance® (MPF®) Habitat for Humanity® Program opens on Friday, March 6, 2026.
Under this program, FHLBank Chicago members approved to participate in the MPF Program may deliver loans originated for homebuyers working with Habitat for Humanity Illinois and Wisconsin affiliates with below market interest rates (~250bps) while still receiving premium pricing of 101 after FHLBank Chicago’s contribution.
The rate reduction is offered on a first-come, first-served basis until funding is fully reserved, or through the end of the year.
This program is designed to support long-term affordability for low- and moderate-income homebuyers and increase affordable housing supply. Backed by $2.5 million in FHLBank Chicago funding for 2026, our MPF Habitat for Humanity Program is expected to support $23-25 million of unpaid principal balance (UPB) fundings. Member-funded UPB is initially capped at $1 million and will be evaluated throughout the year based on program usage.
Key Features
- Mortgage interest rate approx. 250bps below market (while funding available, or through Dec. 31, 2026)
- Predictable, competitive return – fixed PFI price of 101 after FHLBank Chicago contribution
- Eligible for MPF Traditional conventional products (MPF Original, 125, 35)
- 5 to 60-day commitment terms
- Flexible underwriting requirements designed to support the needs of Habitat for Humanity borrowers
Register for our webinar on Wednesday, February 25 at 1 p.m. to learn more about the program, including terms, underwriting flexibility, and how to transact.
2026 DPP® Programs
The 2026 Downpayment Plus® (DPP®) Programs opened January 20. Downpayment Plus (DPP®) and Downpayment Plus Advantage® (DPP Advantage®) provide forgivable grants to help income-eligible homebuyers with down payment and closing costs. Funds are provided through participating members to support affordable and sustainable homeownership in Illinois and Wisconsin.
Program Highlights
- General Pool: Participating members may reserve up to $1 million on a first-come, first-served basis. Funds provide up to $10,000 in assistance for down payment and closing costs for income-eligible borrowers.
- DPP Advantage Pool: Members may also reserve up to $1 million to offer up to $10,000 in down payment assistance to income-eligible homebuyers securing their first mortgages through nonprofit lenders.
Banking on Connections Podcast: Building the Next Generation of Affordable Housing Developers
Our latest episode of Banking on Connections highlights how FHLBank Chicago is strengthening the affordable housing talent pipeline through its Community First® Developer Program.
The episode outlines how $5.9 million in Developer Program funding awarded in 2025 is supporting internships and fellowships across Illinois and Wisconsin, helping organizations build internal capacity and invest in emerging development professionals.
Featuring perspectives from grant recipients and member partners, the episode reinforces how FHLBank Chicago’s funding supports long-term impact by investing not only in housing projects, but in the skilled developers who will deliver affordable housing for years to come.