RHS Housing Strategy Spotlight
First Time Homebuyer?
Struggling to Afford a Home?
Are you or someone you know dreaming of homeownership but unsure where to start? Lower-and-moderate-income households in Dane County have access to various homeownership assistance programs, yet many people are unaware of them, or unsure how to qualify. Each year, hundreds of thousands of dollars in down payment assistance go unused.
Providing more pathways to homeownership was identified as a top priority in the Regional Housing Strategy, below are a variety of programs and resources to help potential buyers.
Steps and Resources
The Home Buyers Round Table (HBRT) of Dane County provides a Home Buyers Road Map that outlines key steps in the homebuying process. HBRT programs not only provide helpful information, but completing some may qualify you for additional down payment assistance.
Go here to see descriptions of the programs that can help with a home purchase. Households below 80% of the Area Median Income (AMI) qualify for the housing assistance programs below. Some programs can be stacked, allowing households to use multiple sources of financial assistance; see the list here.
Households making 80% or below AMI qualify for many programs, including:
Income limits for these programs:
1 person: $68,500, 2 people: $78,250, 3 people: $88,050, 4 people: $97,800,
5 people: $105,650, 6 people: $113,450, 7 people: $121,300, 8 people: $129,100
Households above 80% AMI
The Wisconsin Housing and Economic Development Authority (WHEDA) provides assistance for households above 80% AMI. Find their income limits here and contact a WHEDA approved lender for more information.
For additional homebuyer education or financial counseling, check out the resources from the Urban League of Greater Madison here, and Movin’ Out here. Please share this information with interested residents or community groups.
Please share the Regional Housing News with a friend!
| 
