Wisconsin, otherwise known as America's Dairyland, is home to much more than cheese! However, rising real estate prices can make home ownership difficult for those looking to purchase property in Wisconsin. Luckily, local and national programs exist that offer down payment assistance and grants to qualified applicants. The Wisconsin Housing and Economic Development Authority is one organization that offers such programs.
If you're thinking about purchasing a home in Wisconsin, you may have options to help with the down payment or closing costs. Read below to learn more about any program and see if it can help with your home purchase!
The Easy Close Advantage Program is an initiative by the Wisconsin Housing and Economic Development Authority to help those who otherwise might not be able to afford the down payment of a house. It provides a loan with a fixed interest rate and a 10-year term to help cover the costs of closing and the down payment.
In addition, the program provides free homebuyer education and counseling, as well as other resources. This homebuyer education is required prior to an applicant being approved.
In order to qualify, an applicant’s household must fall within defined annual income limits and the applicant must have a good credit score. Only primary residences can be purchased using this program. The property must be a single-family or duplex that falls within defined loan limits. If the property is a duplex, landlord counseling will also be required.