Beneficiary questionnaire fhlbc pdf 2025

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Here is some good news the FHLB Grant program can help you achieve homeownership. First-time homebuyers (or anyone who has not owned a home in the past 3 years) can be eligible to receive up to $7,500 in grant money to cover down payment and closing costs through Core Bank.
Under the Federal Home Loan Bank Act (FHLBank Act), the specified uses of AHP funds are to finance the purchase, construction, or rehabilitation of owner-occupied housing for low- or moderate-income households (with incomes at 80 percent or less of the area median income), and the purchase, construction, or
In order to apply for advances, each member must pledge high-quality collateral in proportion to its borrowings from the FHLB. The amount of collateral required for an advance incorporates a collateral discount or haircut, which is incorporated into the members pledge and determined by the FHLB.
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For 2023, the FHLB Affordable Housing Homeownership Set-aside Program products were enhanced to add funding where its needed most. The first-time homebuyer product subsidy increased from $7,500 to $12,500 and the Community Partners product subsidy increased from $10,000 to $15,000.
The FHLBs mission is to provide reliable liquidity to its member institutions to support housing finance and community investment. While the FHLBs mission reflects a public purpose, all FHLBs are privately capi- talized and do not receive federal funding. The Federal Housing Finance Agency (FHFA) regulates the FHLBs.

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