Down Payment Assistance Loans
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First Time Home Buyer Program
Down Payment Assistance
1000 HWY 13
PO Box 430
Wisconsin Dells, WI 53965
CONTACT
Kelly Hess
Program Manager
(608) 254-8353 ext. 234
kelly@cwcac.org
Program Features
- Loan to support purchase of single family home you will live in
- Loan is 0% interest deferred payment
- No payment on the loan is required until the home is sold, or is no longer the borrower’s primary residence
- The maximum amount allowed for a 2nd mortgage through the Homebuyer Program is $10,000 and may be applied to lender required down payment
DOWN PAYMENT ASSISTANCE PROGRAM
Borrower Requirements & Qualifications
- Must be pre-qualified for a conventional loan through a reputable lender-Bank, Credit Union, or USDA Rural Development – LENDER INFORMATION
- No FHA or VA loans
- Property must be located in our County Service Area: Adams, Columbia, Dodge, Juneau, Sauk
- Meet program income eligibility guidelines, household income must be at or below 80% County Median Income (CMI) to be eligible for the 2nd Mortgage
2024 INCOME LIMITS SUMMARY
80% INCOME LIMITS
Persons In Family
| COUNTY | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Adams | 48,550 | 55,450 | 62,400 | 69,300 | 74,850 | 80,400 | 85,950 | 91,500 |
| Columbia | 55,880 | 63,800 | 71,750 | 79,700 | 86,100 | 92,500 | 98,850 | 105,250 |
| Dodge | 51,350 | 58,700 | 66,050 | 73,350 | 79,250 | 85,100 | 91,000 | 96,850 |
| Juneau | 48,550 | 55,450 | 62,400 | 69,300 | 74,850 | 80,400 | 85,950 | 91,500 |
| Sauk | 53,600 | 61,250 | 68,900 | 76,550 | 82,700 | 88,800 | 94,950 | 101,050 |
- Be mortgage ready and able to secure affordable superior mortgage loan with 30-year fixed term mortgage from Bank, Credit Union, or USDA Rural Development
- CWCAC Inc. will not provide a 2nd mortgage for a house purchase transaction that does not have a fixed rate mortgage.
- Complete Home Buyer Education course provided by a HUD approved counseling agency. Click on this link to complete the ONLINE HOME BUYER Education Course
- No land contracts allowed
- Must provide a cash contribution $1,000 of borrower funds, (not financed), toward purchase-earnest money, inspection fee, H.O. Insurance Premium, Cash to Close
- Property may not be renter occupied or for any type of rental use
Property Requirements
- Move in ready-must meet Housing Quality Standards at the time of purchase
- Property value must not exceed HUD established county limits
- Must be fee simple title at purchase
- Homes that qualify for a 2nd mortgage can be stick built, modular, new manufactured or condominium on a permanent foundation. A home on a rented or leased lot does not qualify.
Download the fillable application ↑
Email the completed application to kelly@cwcac.org
Subordination Requirement
The Executive Committee of the Board of Directors for Central Wisconsin Community Action Council, Inc. has
set standards for subordination of mortgages funded through the HOME Program.