Grant Programs

Grant Programs

Bank Mutual can help with your dream of owning a home.


Bank Mutual is pleased to participate in numerous grant programs, including:

  • Downpayment Plus® (DPP®), available through Federal Home Loan Bank of Chicago

  • Affordable Housing Program (AHP) 

  • American Dream Down payment initiative (ADDI)

  • Housing Cost Reduction Initiative (HCRI)

  • NeighborWorks of Green Bay

DOWNPAYMENT GRANT PROGRAM

Bank Mutual is pleased to participate in the Downpayment Plus Program, offering down payment and closing cost assistance for low- to moderate-income first-time homebuyers.

Program Overview

  • Forgivable grants, in some years, as high as $10,000 per household or 25% of the first mortgage

  • Available only from Federal Home Loan Bank of Chicago member financial institutions, such as Bank Mutual

Borrower Requirements

  • Current household income must be at or below 80% of the median income for the county where the property is located

  • Property purchased must be the borrower’s primary residence

  • Borrowers must contribute at least $1,000 from personal funds towards purchase

  • Borrowers must complete a homebuyer counseling program

Funds Usage

  • Down payment and closing cost assistance

  • Escrow reserves deposited with Bank Mutual

  • Escrow rehabilitation costs, if eligible

  • Homeownership counseling costs, if eligible

Contact your local Loan Officer to learn more about what grant options may be available to you.

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.