For many, saving for a down payment and closing costs are the biggest obstacle to homeownership. The Downpayment Plus (DPP) program helps overcome this challenge by providing up to $10,000 in grant money, making homeownership more accessible.
Through our membership in the Federal Home Loan Bank of Chicago (FHLB), INB offers the DPP program to borrowers. In 2026, FHLB will award $28 million to home buyers. The DPP provides eligible homebuyers with up to $10,000 in down payment and closing cost assistance.
Springfield-based INB Mortgage Lender Natalie Dodson explains, “DPP is a grant designed to help with closing costs and the down payment. Eligibility is based on income limits and household size.”
Eligibility, Application Made Simple
To determine eligibility, INB needs to know your income and the number of adults living in your home. These details are part of any mortgage loan application. Household income must not exceed 80% of the region’s median income, adjusted for household size. INB submits the grant application on behalf of eligible buyers.
“Most potential buyers have heard of grants but don’t know the requirements,” says INB Lender Bill Townsend. “If they qualify, I explain how easy it is to get the money. We do most of the work. Buyers just need to complete a homebuyer education course and counseling.”
Deena Smith, another Springfield-based lender, agrees. “The process is stress-free and the easiest $10,000 you could ever make. We will submit the grant application for approval with your documents that you have already submitted for your loan. We will also give you a link to take an online, pre-purchase homebuyer counseling education class,” Deena continues, “The process has never been easier than it is today.”
While DPP is not limited to first-time homebuyers, refinances are not eligible. The grant is a powerful tool for eligible buyers, offering financial assistance and creating opportunities for homeownership.
Bloomington based lender, Sean Banigan shares, “DPP is a great tool. I’ve shared it with realtors to inform buyers and have seen buyers recommend it to friends. Everyone loves how simple it is to use.”
DPP is open for application January 20, 2026 and is available until the program runs out of funding.
If you’re considering buying a home, talk to an INB mortgage lender to see if you qualify for the DPP grant. Let us help you make your dream of homeownership a reality.
Contact one of the INB lenders mentioned in this blog.
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