City of Janesville Home Possible Down Payment Assistance

City of Janesville Home Possible Down Payment Assistance is a forgivable loan for homebuyers in Janesville, Wisconsin, administered by City of Janesville Neighborhood & Community Services. The City of Janesville's Home Possible program provides forgivable loans up to $10,000 to low- and moderate-income first-time homebuyers purchasing within Janesville city limits, at or below 80% of Rock County median income. Loans are forgiven after five continuous years of owner-occupancy. Borrowers must complete HUD-certified homebuyer counseling. Up to $10,000 forgivable loan. 0% interest. 100% forgiven after 5 years. Combinable with other DPA.

City of Janesville Home Possible Down Payment Assistance offers up to $10,000 in assistance. The program can be combined with NeighborWorks Blackhawk Region DPA, Downpayment Plus. Amounts are the program's published maximums, not an offer — City of Janesville Neighborhood & Community Services determines any individual award.

City of Janesville Home Possible Down Payment Assistance is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer of title, or property no longer primary residence before 5 years. 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.

City of Janesville Home Possible Down Payment Assistance is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through HUD-certified counseling; NeighborWorks Blackhawk Region workshops. Must complete HUD-certified homebuyer counseling. Property within Janesville city limits. One source cited $15,000 max; official page confirmed $10,000 - confirm current amount with city.

City of Janesville Home Possible Down Payment Assistance limits household income to 80% of the area median income, which varies by county and household size. At or below 80% of Rock County Area Median Income. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Janesville Home Possible Down Payment Assistance can be used for Single Family. New construction is not eligible. Manufactured homes are not eligible.

City of Janesville Home Possible Down Payment Assistance serves homebuyers purchasing in Janesville, Wisconsin. The program targets specific areas: Must purchase within Janesville city limits.

Applications for City of Janesville Home Possible Down Payment Assistance go through City of Janesville Neighborhood & Community Services, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.