Posted On: August 14, 2025 by Prevail Bank in: Home Loans

Need Help with a Home Loan Down Payment?
Buying a home is a big step --- for many, the biggest obstacle is saving enough for the down payment and closing costs. That’s where the Downpayment Plus Program (DPP) comes in.
The Downpayment Plus Program (DPP) is a program offered by the Federal Home Loan Bank of Chicago (FHLBC) that assists income-eligible home buyers with their down payments and closing costs. The Prevail Bank Mortgage Lending Team is proud to offer this assistance through our partnership with the FHLBC.
What is the Downpayment Plus Program?
The Downpayment Plus Program helps income-eligible homebuyers cover a portion of their down payment and closing costs.
One of the key benefits: This is a grant that is forgivable if conditions are met. Meaning, if you (the buyer) live in the home as your primary residence for at least 5 years, you don’t have to repay the money provided. But if you move out sooner, you will most likely have to pay back a prorated amount.
Other benefits: It is not limited to first-time homebuyers. It may be combined with other down payment assistance programs.
Downpayment Plus Program Requirements
The Downpayment Plus Program is an annual program that is based on a first-come, first-served basis until the allotted funds in the program run out. While there are many factors that determine a consumer’s eligibility for the program, the maximum amount of grant assistance for 2025 is $10,000.
Approval for assistance is based on the county’s Housing and Urban Development (HUD) income guidelines and on how many people will be living in the specified home.
Other home buyer requirements include:
- Contribute at least $1,000 toward the purchase of the home
- Complete homebuyer education and pre-purchase counseling before closing
- Use the property as their primary residence
Is the Downpayment Plus Program Right for You?
For additional requirements and details on the Downpayment Plus Program, reach out to a Prevail Bank Mortgage Lender to see whether you are eligible for this assistance-based program. We’re here to help you through every step of the home buying journey. If you are eligible, we will complete the DPP application process on your behalf.
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