Chippewa County Housing Authority Homebuyer Program

What is Chippewa County Housing Authority Homebuyer Program?

Chippewa County Housing Authority Homebuyer Program is a deferred second loan for homebuyers in Chippewa Falls, Wisconsin, administered by Chippewa County Housing Authority.

• The Chippewa County Housing Authority Homebuyer Program offers no-interest, deferred-payment loans for down payment and closing-cost assistance to income-eligible homebuyers across a 10-county region. Assistance is a dollar-for-dollar match up to 10% of the purchase price, secured by a mortgage to the Authority, repaid in full when the owner no longer occupies the home and never forgiven. Buyers must contribute at least $1,000, complete homebuyer education, and the home must pass an HQS inspection, not be in a floodplain, and not need substantial rehab.
• No-interest deferred-payment loan.
• Dollar-for-dollar match up to 10% of purchase price.
• Covers down payment and closing costs.
• Buyer may choose own lender.
• Funding comes from State of Wisconsin, Department of Administration, Division of Energy, Housing and Community Resources (CDBG/HOME).

How much assistance does it provide?

Chippewa County Housing Authority Homebuyer Program provides assistance worth 10% of the purchase price, as set by the program.

• Buyer contribution: Applicants must contribute at least $1,000 of their own funds toward the purchase.
• Amounts are the program's published maximums, not an offer — Chippewa County Housing Authority determines any individual award.

Do you have to pay it back?

Chippewa County Housing Authority Homebuyer Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Repaid in full when the owner no longer occupies the home; loans are never forgiven under any circumstances.
• The assistance is recorded in Second position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Chippewa County Housing Authority Homebuyer Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Chippewa County Housing Authority Homebuyer Program limits household income to 80% of the area median income, which varies by county and household size.

• Annual gross household income at or below HUD income limits (~80% AMI). Chippewa/Eau Claire/Barron/Clark area: 1=$53,800; 2=$61,450; 3=$69,150; 4=$76,800; 5=$82,950; 6=$89,100; 7=$95,250; 8=$101,400 (varies by county; see brochure for Buffalo, Dunn, Pepin, Pierce, Polk, St. Croix).
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Chippewa County Housing Authority Homebuyer Program can be used for Single Family.

Where does it apply?

Chippewa County Housing Authority Homebuyer Program serves buyers purchasing in Chippewa Falls, Wisconsin.

• The program targets specific areas: Barron, Buffalo, Chippewa, Clark, Dunn, Eau Claire, Pepin, Pierce, Polk, and St. Croix Counties, WI.

How do you apply?

Applications for Chippewa County Housing Authority Homebuyer Program go through Chippewa County Housing Authority, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved Homebuyer Education Program (pre-purchase, purchase process, and post-purchase); online or in-person..

2. 2

   Contact Chippewa County Housing Authority to reserve funds

   Funds are reserved through Funds dependent on availability and location of the home; application via Chippewa County Housing Authority., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.