Down Payment Assistance for Eligible Homebuyers
If you're looking to buy a home, you may be eligible to receive up to $10,000 toward your down payment and closing costs through the Downpayment Plus® program (DPP). Questions? Security Financial Bank (SFB) is here to guide you every step of the way.
Wondering how the grant works? Follow the steps below:
- Contact a DPP Provider: DPP is offered by members of the Federal Home Loan Bank of Chicago (FHLBank). SFB is a participating lender of the FHLBank Chicago.
- Apply: Your lender will collect applicable documentation and complete the DPP application process on your behalf.
- Approval: FHLBank Chicago will work with your lender to review your application and eligibility. Your lender can answer any questions you may have about the DPP process.
- Prepare: After your lender has confirmed your DPP grant reservation is in place, you will work with your lender to complete the required pre-purchase education and pre-purchase counseling through approved providers.
- Purchase: DPP funds can be used to help with your down payment, closing costs, and/or up to $500 for your homebuyer education and counseling costs if they meet eligibility requirements.
Talk to your lender to understand how DPP will work with your home purchase. For more information and eligibility requirements, make an appointment online with an SFB mortgage banker today or call 888.254.0615 to get started.
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