Community First^® Housing Counseling Resource Program partners with WHEDA to enhance statewide housing counseling availability

The Federal Home Loan Bank of Chicago (FHLBank Chicago) has awarded $2.5 million to the Wisconsin Housing and Economic Development Authority (WHEDA) for 2025 through its Community First^® Housing Counseling Resource Program. The increased funding compared to last year allows WHEDA to expand its network of U.S. Department of Housing and Urban Development (HUD)-certified counseling agencies, helping more Wisconsin families prepare for sustainable homeownership.

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First-time homebuyer Kathryn Hazleton celebrates achieving homeownership with housing counseling support from La Casa de Esperanza and $10,000 in down payment assistance through FHLBank Chicago’s Downpayment Plus® Program.

“Together with WHEDA, we’re expanding pathways to successful and sustainable homeownership across Wisconsin,” said Katie Naftzger, Senior Vice President and Community Investment Officer at FHLBank Chicago. “Housing counseling provides families with the knowledge and confidence to make informed decisions and create stability that lasts.”

Launched in 2022, the Housing Counseling Resource Program expands access to financial education, credit preparation, and homebuyer support services for people working toward long-term housing stability. The program also empowers current homeowners in the maintenance of their homes through post-purchase education and, should they incur financial instability, foreclosure prevention counseling.

With WHEDA leading Wisconsin's efforts and the Illinois Housing Development Authority managing Illinois services, FHLBank Chicago has invested $13 million in strengthening housing counseling access across both states.

“Housing counseling gives people the knowledge they need to navigate the path to homeownership and make informed decisions. The Federal Home Loan Bank of Chicago’s investment ensures current homeowners and first-time buyers have the support to secure a stable home,” said Elmer Moore Jr., Executive Director and CEO of WHEDA. “Homeownership provides working families with stability and strengthens community connections. This partnership is a game-changer, and we are so very grateful.”

In 2023 and 2024, HUD-certified housing counseling agencies receiving funding through the Housing Counseling Resource Program have served more than 14,000 Wisconsin households, with over 1,600 achieving their goal of homeownership. This individualized support equips families with the knowledge and resources needed to make informed decisions and establish lasting financial stability.

One success story: Kathryn Hazleton, a first-time homebuyer, worked with La Casa de Esperanza, to become mortgage-ready with Waukesha State Bank and secure a $10,000 grant through FHLBank Chicago’s Downpayment Plus^® (DPP^®) Program.

“La Casa de Esperanza’s homebuyer program helped me understand what I needed to do to buy a home,” said Hazleton. “The grant I secured through the DPP Program was extremely helpful, and I didn’t need to spend all my savings on the down payment. I had been saving for years, and I finally did it. Now I can afford to update my home and make it my own. Being a homeowner makes me feel free, and it’s relaxing to know I have my own place and my payments are controlled.”

FHLBank Chicago remains committed to strengthening housing counseling resources and creating pathways to homeownership for families across Wisconsin and Illinois.

About the Federal Home Loan Bank of Chicago

FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members’ customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com.

“Community First” is a registered trademark of FHLBank Chicago.

About the Wisconsin Housing and Economic Development Authority

The Wisconsin Housing and Economic Development Authority is a self-supporting public agency whose mission is to help Wisconsin thrive by expanding access to affordable housing choices. Since its creation in 1972, the Authority has financed the development of more than 88,700 affordable rental units, helped more than 141,800 families purchase a home, and provided more than 29,280 small business and agricultural loan guarantees. To learn more about the Agency and its programs, visit wheda.com or call 800-334-6873.

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