Lower your home loan borrowing costs.
Up to $10,000 toward your home loan down payment and closing costs may be available.
If you want to buy a home and have a steady income and good credit, Prevail Bank and the Federal Home Loan Bank of Chicago can help. The Downpayment Plus® Program is a program that provides down payment and closing cost assistance for income-eligible homebuyers. The assistance is provided in the form of a forgivable grant paid on behalf of the borrower at the time the borrower closes on mortgage financing with Prevail Bank. Grants are forgiven on a monthly basis over a five-year retention period.
Homebuyers must meet income eligibility requirements and:
- Provide the executed purchase contract for the property
- Contribute at least $1,000 to the purchase of the home
- Complete pre-purchase homebuyer education and counseling
- Live in the home as your primary residence
* Downpayment Plus is a program from the Federal Home Loan Bank of Chicago. Restrictions apply. Please see the Federal Home Loan Bank of Chicago’s website at www.fhlbc.com for complete requirements. “Downpayment Plus” is a registered trademark of the Federal Home Loan Bank of Chicago.
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Website: Prevail.bank
Phone: 800.205.0914
Routing#: 291571270
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