MPF® Habitat for Humanity® Program

Under the MPF® Habitat for Humanity® 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 rate.

the logo for mpf, habitat of Illinois, and habitat of wisconsin

Why use the MPF Habitat for Humanity Program?

  

* Please consult your institution’s CRA compliance specialist to determine CRA eligibility.

  • Competitive community lending offering (~250 bps below market)
  • Flexible underwriting
  • Simple delivery commitment execution with commitment term of 5 - 60 days
  • Standardized secondary financing option for Habitat partnerships
  • Support communities’ needs for affordable housing
  • Uses existing MPF delivery commitment and funding process
  • Strengthen Habitat relationships across Illinois and Wisconsin
  • Potential to earn Community Reinvestment Act (CRA) credit*
  • Amplify your support of community development activities
  • Marketing opportunity for community engagement

Maximize Your Benefit

Maximize your benefit by leveraging our various community investment programs.

MPF Habitat for Humanity Program

Partner with a Habitat affiliate to originate loans at 250bps below market rate.

Receive a price of 101.00 when you deliver!

Habitat Affiliates in Illinois and Wisconsin are linked below.

Downpayment Plus®

Apply for grants of up to $10,000 to assist with down payment and closing cost assistance for income-eligible homebuyers. Assistance is provided on behalf of the borrower at the time the borrower closes on mortgage financing.

More about DPP

Community Advance

Qualify for discounted Advances, of 50bps below regular rates, for funding affordable housing purchase & refinance activity (up to 200bps for affordable housing construction or rehabilitation).

More about Community Advance

Funding Parameters

Funding Parameters Table

Program Advantage

Table displaying the MPF Habitat Program Advantage

How Can You Participate?

Similar to other MPF products and FHLBank Chicago will examine member quality control findings prior to approving member participation in the program. Members should note that loans may have higher rates of quality control reviews.

 
Download Program Sheet

Step One

Start the process by contacting your Sales Director via phone or email. FHLBank Chicago will review the request within three business days.

Step Two

Once approved, you will receive a master commitment (MC) amendment outlining program parameters.

Step Three

You will execute the MC amendment and return to FHLBank Chicago. Once processed, you can begin executing commitments and funding Habitat for Humanity loans.

MPF Habitat for Humanity Resource Hub

FAQs

Find answers to your most pressing questions about the MPF Habitat for Humanity Program here.

 

Download all FAQs

This program is available exclusively to Habitat for Humanity affiliates located in Illinois and Wisconsin.

The CE obligation will be calculated the same way as other MPF Traditional loans. The CE obligation will take into consideration the loan data provided during the loan presentment process, including loan-to-value (LTV), FICO, and debt-to-income (DTI).

Only servicing retained loans are eligible for the MPF Habitat for Humanity Program.