Lakeshore CAP’s Home Buyers Program
LCAP was chosen for a 2019 AHP (Affordable Housing Program) award by FHLB of Chicago! Our program supports neighborhoods, builds personal equity and can be more affordable than renting.
Thank you, Federal Home Loan Bank of Chicago — and our project sponsor Bank First — for helping us realize the dreams of 20 qualifying low to moderate income households with up to $6000 each in assistance!
What is the AHP?
The Affordable Housing Program facilitates the development of affordable rental housing and home ownership opportunities for very low-, low-, and moderate-income households. Through a competitive application process, the FHLB of Chicago provides grants to it’s members and their local project to finance affordable housing initiatives.
For instance, the Bank evaluates the application of each project that meets all eligibility standards. The Bank scores the applications on the basis of pre-established criteria and ranks them based on this scoring process. Then, funds are awarded to the highest-ranking projects in order until all available funding has been awarded.