Bank / Credit Union

Federal Home Loan Bank of Chicago partners with housing counseling agencies

Image via Istock.com

November 2, 2022

The Federal Home Loan Bank of Chicago has partnered with a number of local housing counseling agencies to offer services to minority and low-to-moderate income homebuyers. In particular, its Community First Housing Counseling Resource Program will offer grants to these agencies based in Illinois and Wisconsin, according to a press release.

The Illinois Housing Development Authority and the Wisconsin Housing and Economic Development Authority are handling the Housing Counseling Resource Program on behalf of the FHL Bank of Chicago. The IHDA selected 21 organizations for grants and the WHEDA selected nine.

"IHDA and WHEDA are important partners doing excellent work to address the gaps that underserved households face when buying a home," Katie Naftzger, VP, community investment officer, FHLBank Chicago, said in the release. "Housing Counseling Agencies support financial coaching, credit readiness, lending, and real estate support."