FHLBank Chicago Invests $3.15 Million to Expand Housing Counseling Access for Illinois Homebuyers

Sponsored Content from Federal Home Loan Bank of Chicago

Illinois homebuyers now have expanded access to the housing counseling services that can make the difference between homeownership dreams and reality.

The Federal Home Loan Bank of Chicago (FHLBank Chicago) is providing $3.15 million in 2025 funding to the Illinois Housing Development Authority (IHDA) through its Community First® Housing Counseling Resource Program. This investment strengthens the network of HUD-certified housing counseling agencies delivering personalized guidance to individuals and families preparing for homeownership across Illinois.

For REALTORS®, this expanded support means working with more prepared, confident clients who are ready to navigate the homebuying process. Housing counseling provides prospective buyers with financial education, credit preparation and homebuyer support services - the foundation for successful, long-term homeownership. Current homeowners also benefit through post-purchase education and foreclosure prevention counseling when financial challenges arise.

Since the program launched in 2022, FHLBank Chicago has awarded over $13 million to strengthen these services throughout Illinois and Wisconsin. The results speak for themselves: HUD-certified agencies funded through this program have supported more than 49,000 households in Illinois, with more than 3,800 successfully purchasing homes.

"Homeownership is one of the most significant financial commitments families will make, and proper preparation as well as working with a licensed REALTOR® is essential," said Sharon Gorrell, Senior External Affairs Representative at FHLBank Chicago. "By supporting IHDA's counseling network, we're ensuring Illinois families have access to the expert guidance they need to build lasting housing stability."

As Illinois continues to face housing affordability challenges, programs like this create stronger pathways to homeownership. Housing counseling helps buyers navigate the home buying process with greater confidence and clarity - ultimately creating more stable transactions and stronger communities.

"We're here to help more Illinoisans, especially those traditionally left behind, secure a safe, stable home," said IHDA Executive Director Kristin Faust. "Housing counseling helps people better navigate that journey, and we're proud to continue supporting pathways that lead to lasting stability and stronger communities."

For more information and a list of Illinois housing counseling beneficiaries, visit FHLBank Chicago's Community First Housing Counseling Resource Program.