Downpayment Assistance Programs

City of Madison Homebuyer's Assistance (HBA)

City of Madison Homebuyer’s Assistance is an acquisition and rehabilitation program to help you buy a home and fix it up with a portion of your financing provided by City funds at below market rates. Contact City of Madison for availability, phone 608-266-4223.

Downpayment Plus (DPP)

Downpayment Plus provides down payment and closing cost assistance to low and moderate-income households that receive mortgage financing through a FHLBC Member. The assistance is in the form of a forgivable loan that is forgiven over a five year period. The maximum amount of the loan is $6,000 for 2017. $700 of the loan amount is paid to the housing counseling agency providing education.

Home Buy the American Dream

Home Buy the American Dream provides Down payment and closing cost assistance to low to moderate homebuyers who purchase in Dane County. The City of Madison will provide a mortgage loan of $1,000 to $10,000 for properties in the City of Madison and $1,000 to $5,000 in Dane County outside the City. This loan has no monthly payments for eligible buyers.

There are no monthly payments to eligible homebuyers. The loan will become due and payable at sale, when the property is no longer owner-occupied or the first mortgage is refinanced for cash out purposes not related to home improvement.


Home Start, Realtors Housing Foundation

South Central Realtors Association offers down payment assistance to qualified home buyers with total annual household incomes falling below 80% of county median income. Funds may be used for down payment or closing costs at the time of closing. Maximum loan amount is $4,000 or 3% of the purchase price, whichever is lower. Funding is not always available.

MOmentum

MOmentum program provides down payment assistance to low to moderate income homebuyers who purchase in Dane County outside of the City of Madison. This program provides a mortgage loan of up to $8,500 with no monthly payments to eligible homebuyers. The loan will become due and payable at sale, when the property is no longer owner-occupied or the first mortgage is refinanced for cash out purposes not related to home improvement.


Movin' Out

Movin’ Out provides down payment and closing costs assistance programs for households where at least one household member has a permanent disability. (Includes: sensory, physical, cognitive or chronic medical disability, mental retardation, documented learning disabilities, persistent mental illness; developmental delays and/or disabilities such as autism, cerebral palsy, epilepsy and others.) Does NOT include disabilities due to aging process.

WHEDA Easy Close Advantage

Down payment assistance for WHEDA Advantage first-time home buyers. When you qualify for a WHEDA Advantage mortgage, you may qualify for the Easy Close Advantage. This $3,000 loan for 10 years is designed to help pay for down payment, closing costs and home buyer education expenses.
Features and Benefits

* Immediate access to loan funds at the time of closing. You can qualify for the Easy Close Advantage at the same time they qualify for a WHEDA Advantage mortgage making the loan process quick and easy.
* Eligible to pay for the loan level pricing adjustment with the Advantage Price Point option so that you can realize an even lower WHEDA Advantage interest rate.