Community First April 2025 Newsletter
Building Dreams Through Homebuyer Education and Down Payment Assistance
In October 2024, after months of preparation and playing an active role in the construction process, Molly and Joseph proudly closed on a home tailored to their family’s needs, equipped with the knowledge and resources to support sustainable homeownership. Their journey demonstrates the transformative impact of housing counseling and down payment assistance in overcoming hurdles to homeownership.
Affordable Housing Program General Fund Competitive Round Opens
May 12, 2025
FHLBank Chicago has allocated $52M to its 2025 Affordable Housing Program (AHP) General Fund. Applications will be accepted beginning Monday, May 12, 2025 through 5:00 p.m. CT on Friday, June 20, 2025. The 2025 AHP Implementation Plan is available on our website.
Please note we have made some recent updates to our 2025 AHP General Fund scoring categories. To learn more about these changes, register for one of our upcoming webinars.
- AHP Overview Webinar – Tuesday, April 29 | 10–11:30 a.m.
- AHP Webinar for Experienced Users – Thursday, May 1 | 1–2 p.m.
The AHP Overview webinar will cover project eligibility, financial feasibility, and scoring. Potential AHP project sponsors, FHLBank Chicago member institutions, real estate developers, and consultants are encouraged to attend. The Experienced Users webinar will focus on significant changes for this year’s program. For those unable to attend, we will also be producing a series of recorded webinar presentations covering the same content, which will be available on our website in early May.
The Guide for Sponsor Applicants for Rental and Owner-Occupied Projects, the Guide for Member Applicants, and the application exhibits will be posted to our AHP Program Policy and Forms webpage in late April. Potential applicants are encouraged to review these resources once they are available.
Discounted Community Small
Business Advance is Open
Due to overwhelming demand, a new Discounted Community Small Business Advance (CSBA) offering a 100-basis points discount is now available to our members. The CSBA program supports the local economy and community revitalization efforts in Illinois and Wisconsin by allowing members to borrow from FHLBank Chicago at a discounted rate in support of small business lending.
If you are an FHLBank Chicago member and have any questions, please contact your Sales Director directly or our Member Transaction Desk at mtd@fhlbc.com or 855.345.2244, option 1.
Community Support Program – Statement Submission Begins
FHLBank Chicago members are required to submit a Community Support Statement (CSS) to the Federal Housing Finance Agency (FHFA) every two years. The 2025 Community Support Program (CSP) review cycle will began April 1, 2025. While the CSS deadline is October 31, 2025, we recommend submitting this as soon as possible. Failure to meet the standards outlined in the CSP regulation will result in FHFA restricting your institution’s access to FHLBank Chicago products, including new long-term advances (those greater than one year), AHP, DPP and Community Advances.
More information on Community Support review can be found on our Community Support Program webpage. Please contact us at communitysupportprogram@fhlbc.comwith any questions.
Discounted Community Small
Business Advance is Open
Due to overwhelming demand, a new Discounted Community Small Business Advance (CSBA) offering a 100-basis points discount is now available to our members. The CSBA program supports the local economy and community revitalization efforts in Illinois and Wisconsin by allowing members to borrow from FHLBank Chicago at a discounted rate in support of small business lending.
If you are an FHLBank Chicago member and have any questions, please contact your Sales Director directly or our Member Transaction Desk at mtd@fhlbc.com or 855.345.2244, option 1.
Community Support Program – Statement Submission Begins
FHLBank Chicago members are required to submit a Community Support Statement (CSS) to the Federal Housing Finance Agency (FHFA) every two years. The 2025 Community Support Program (CSP) review cycle will began April 1, 2025. While the CSS deadline is October 31, 2025, we recommend submitting this as soon as possible. Failure to meet the standards outlined in the CSP regulation will result in FHFA restricting your institution’s access to FHLBank Chicago products, including new long-term advances (those greater than one year), AHP, DPP and Community Advances.
More information on Community Support review can be found on our Community Support Program webpage. Please contact us at communitysupportprogram@fhlbc.comwith any questions.
2025 HUD Income Limits
The United States Department of Housing and Urban Development (HUD) released income limits for 2025 on April 1. Effective April 15, these limits will be used to determine income eligibility for FHLBank Chicago’s AHP General Fund, DPP programs, and Community Advances. In the interim, if a grant application is ineligible under the limits currently in our system, we will review it using the 2025 HUD limits and notify the member if it qualifies once they take effect on April 15.
Upcoming Events and Key Dates
Corporation for Supportive Housing Summit
April 23-25 | Chicago, IL | Sponsored by FHLBank Chicago
Since 2015, the CSH Supportive Housing Summit has gathered dedicated individuals to exchange knowledge and discover innovative approaches to strengthening the supportive housing field.
2025 DPP Webinar
April 24 | FHLBank Chicago Webinar
Join us as we walk you through our 2025 Downpayment Plus Programs (DPP), including enhancements to our online application system.
2025 AHP Overview Webinar
April 29 | FHLBank Chicago Webinar
This webinar will provide an overview of our 2025 competitive Affordable Housing Program General Fund round. Topics covered include project eligibility, financial feasibility, and scoring. Potential AHP project sponsors, FHLBank Chicago member institutions, real estate developers, and consultants are encouraged to attend.
2025 AHP Webinar for Experienced Users
May 1 | FHLBank Chicago Webinar
This webinar will summarize key changes for our 2025 competitive Affordable Housing Program General Fund round. Project sponsors, FHLBank Chicago member institutions, and development consultants with previous competitive AHP experience are encouraged to attend.
Driftless Regional Rural Housing Summit
May 6 | Hillsboro, WI | Sponsored by
FHLBank Chicago
This regional workshop is intended to build local capacity, facilitate regional partnerships and strengthen local connections to state and federal agencies, but is tailored to address local issues of concerns.
Illinois Housing Council (IHC) Summer Mixer
June 12 | Chicago, IL | Sponsored by FHLBank Chicago
This casual networking event will take place at The Meadow at the Old Post Office — Chicago's largest urban rooftop with incredible views of the city skyline and river. Mingle among affordable housing professionals with cocktails and hors d’oeuvres and soak in the warm weather.