Bridging the Homeownership Gap in Wisconsin's Northwoods

In Michigan’s Western Upper Peninsula and Wisconsin’s Northwoods region, the path to homeownership presents a unique challenge. While homes may be affordable, the local economy doesn't always provide wages to match, and much of the rental stock has been converted to vacation properties. For Carmen Schipferling, Home Lending Specialist at IncredibleBank, FHLBank Chicago's Downpayment Plus^® (DPP^®) Program has become an essential tool for bridging that gap. 

“After moving to the area, I saw firsthand how hard it was for families to get into homes,” Schipferling said. “DPP has helped open doors for people who never thought homeownership was possible.” 

IncredibleBank, a community bank with eight lenders serving the country from their offices in Wisconsin, Michigan, and Florida, has leveraged DPP as its primary down payment assistance program since Schipferling first used it in 2016. The program's simplicity and substantial grant amount has made a meaningful difference for first-time homebuyers who might otherwise remain locked out of the market. 

Since 2024, the partnership has accelerated, with IncredibleBank helping approximately 30 families achieve homeownership through DPP, most receiving the maximum funding. One story stands out: a single mother raising her three-year-old daughter and teenage sister arrived at closing needing only one dollar to complete her purchase. 

"She was in tears," Schipferling recalled. "She said, 'I never thought this would happen. And now here I am buying a house with one dollar.'" 

Behind every successful closing is the support of FHLBank Chicago's DPP team. Schipferling credits Community Investment Operations Specialist Kait Decker with going above and beyond—once resolving a critical issue just two days before closing. "She makes us feel well cared for," said Schipferling. "There's never anything too small to ask." 

Looking ahead, all IncredibleBank lenders have enrolled in DPP training for 2026, with the goal of offering the program to every qualifying customer.  “DPP has become an essential part of how we support first-time homebuyers,” Schipferling said. “Our goal is to make sure it’s available to as many qualifying families as possible.”