Purchasing a home may be the greatest investment you will ever make! This program provides grants toward the purchase of a home in any part of Jefferson County. The funding can be used to pay for part of your down payment, all customary closing costs, prepaid items, reserves, and home buyer counseling. For general information about the programs please contact RoxAnne Witte at (920)-674-8711 or roxannew@jeffersoncountywi.gov.
Down Payment Plus Program
- Grant Amount – Up to $6,000 or up to $25% of first mortgage
- Must use a participating lender
- Education and Counseling Fee can be paid for by the grant
- Homebuyer education and counseling required – (see below for a list of HUD Certified Counselors)
- Buyer must contribute at least $1,000 toward the purchase of the property; (earnest money, home inspection, homeowner’s insurance, personal funds)
- Income cannot exceed 80% of Jefferson County Low-Moderate Income Guidelines
- Total Debt-to-Income Ratio cannot exceed 45% (if over 45% bank will need to get approval)
- Can be used with the following loan products – RD, HUD Section 184, FHA, VA, IHDA and WHEDA, Fannie Mae and Freddie Mac
HOME Consortium Down Payment Assistance Program
- Grant Amount – $10,000
- Must use a participating lender
- Income at or below 80% of Jefferson County Median Income Guidelines
- Homebuyer education and counseling required – (see below for a list of contracted counselors)
- Housing Debt-to-Income Ratio cannot be lower than 20%
- Total Debt-to-Income Ratio cannot exceed 50%
- Can be used with the following loan products – Conventional (fixed or adjustable rate), Fannie Mae, Freddie Mac, RD, WHEDA, Federal and State VA, Habitat for Humanity, FHA
- Must pass HOME Consortium Code Requirement Inspection
- House Purchase Limit – existing home – $238,000.00, new construction – $261,000.00
Income Limits
Federal Home Loan Bank of Chicago Down Payment Plus $6,000 grant program income limits by household size (effective 4/18/2022)
HOME Consortium Down Payment Assistance $10,000 grant program income limits by household size (effective 6/1/2022)
Household size: | 1 | 2 | 3 | 4 | 5 | 6 |
---|---|---|---|---|---|---|
Jefferson County | $49,350 | $56,400 | $63,450 | $70,500 | $76,150 | $81,800 |
City of Watertown – Dodge County portion | $45,650 | $52,200 | $58,700 | $65,200 | $70,450 | $75,650 |
City of Whitewater – Walworth County portion | $49,300 | $56,340 | $63,400 | $70,400 | $75,650 | $81,700 |
Counseling
HUD Certified Counselors that work with the Federal Home Loan Bank of Chicago Down Payment Plus Program and the HOME Consortium Down Payment Assistance Program
Federal Home Loan Bank of Chicago Down Payment Plus Program and the HOME Consortium Down Payment Assistance Program
Housing Resources, Inc. (HRI) Mary Bridges or Pam Gholston 217 Wisconsin Ave, Suite 411 Waukesha, WI 53186 262-522-1230 mary_bridges@hri-wi.org pam_gholston@hri-wi.org www.hri-wi.org | La Casa de Esperanza, Inc. Crystal Monsivias 134 Wisconsin Avenue Waukesha, WI 53186 262-899-6787 cmonsivais@lacasadeesperanza.org |
Family Services Association dba (Consumer Credit Counseling Services) Keith Braun 139 N Main Street, Suite 101 West Bend, WI 53095 262-306-9241 kbraun@cccsonline.org |