WISCONSIN DOWN PAYMENT ASSISTANCE PROGRAMS
There are many first time home buyer and down payment assistance loans to choose from.
The biggest hurdle for many Wisconsin first time home buyers is the lack of down payment money. With the combination of a traditional loan, like an FHA loan, and a city, county, state, or local community assistance program, many people can buy a home with as little as $1,000 out of pocket
WHO QUALIFIES FOR DOWN PAYMENT ASSISTANCE?
As with any assistance program, there are additional rules and guidelines that need to be followed, and vary by individual program.
Here is a typical list of assistance loan requirements:
- Put at least $1,000 of your own money for down payment
- Credit score above 620 (middle score of all applicants)
- Attend Home Buyer Education classes
- Meet the programs family income limits
- Buy an affordable home (not too expensive for you)
- Provide previous three years tax returns (to prove you are a first time buyer)
- Meet the FHA Loan, VA Loan, USDA, or Fannie Mae / Freddie Mac underlying loan guidelines
DOWN PAYMENT ASSISTANCE PROGRAMS
Because there are so many programs that come and go, it is very hard for us to keep track of all of them.
If you know of, or have found a program you wish to use a program in your area, just let us know the name of the program. We'll make sure it works in combination with the main loan, that it still exists, and that you qualify.
We suggest you don't try to figure it out yourself...
Rather, simply call us at (651) 552-3681, or fill out a full online application. Our licensed professional Loan Officers will review the application, zero in on the best loan for you, then contact you to discuss your options, all with NO COST and NO obligations whatsoever.