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City of Kenosha HOME Homebuyer Purchase Assistance

City of Kenosha, Department of City Development - Community Development Division · Kenosha, Wisconsin

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Assistance

17%

Of the purchase price, as the program sets it

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Deferred

No payments until the home is sold or refinanced

What is City of Kenosha HOME Homebuyer Purchase Assistance?

City of Kenosha HOME Homebuyer Purchase Assistance is a deferred second loan for homebuyers in Kenosha, Wisconsin, administered by City of Kenosha, Department of City Development - Community Development Division.

  • HUD HOME-funded program for income-eligible buyers purchasing a home within the City of Kenosha. The City offers a deferred second mortgage covering the financing gap, up to 17% of the purchase price, plus a separate Down Payment Assistance Grant and Closing Cost Assistance Grant. The second mortgage is a deferred-payment loan at 0% interest for the first 10 years, then converts to monthly payments at 3% interest for the next 20 years. Separately, a VA-loan DPA grant of up to $5,000 is available to eligible VA borrowers.
  • Deferred second mortgage up to 17% of purchase price (0% for 10 yrs, then 3%); Down Payment Assistance Grant; Closing Cost Assistance Grant up to 3% of purchase price; up to $5,000 DPA grant for VA borrowers.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from HUD HOME Investment Partnerships Program.

How much assistance does it provide?

City of Kenosha HOME Homebuyer Purchase Assistance provides assistance worth 17% of the purchase price, as set by the program.

  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — City of Kenosha, Department of City Development - Community Development Division determines any individual award.

Do you have to pay it back?

City of Kenosha HOME Homebuyer Purchase Assistance is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by sale, transfer, or failure to occupy as primary residence within affordability period; recapture upon sale within affordability period.
  • 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?

City of Kenosha HOME Homebuyer Purchase Assistance is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course
  • Buyer must provide a 3% down payment at closing and contribute at least 25% of the required down payment amount or $1,000 (whichever is greater) toward a DPA grant. Cannot own any other residential property at closing. Must be US citizen or qualified alien. Deed restriction requiring single-family owner-occupancy. Affordability period 5-15 years based on subsidy amount. Front-end DTI generally <=30%, back-end <=45%. VA DPA grant forgiven over 5 years (20%/yr). Closing cost grant and DPA grant repaid in full if homeowner leaves before 5 years, less 20% reduction per year resided.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

City of Kenosha HOME Homebuyer Purchase Assistance limits household income to 80% of the area median income, which varies by county and household size.

  • Total annual household income cannot exceed 80% of Kenosha County area median income by family size (HUD); income determined from IRS Form 1040 adjusted gross income.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Where does it apply?

City of Kenosha HOME Homebuyer Purchase Assistance is a federal program, so it is not limited to Wisconsin.

How do you apply?

Applications for City of Kenosha HOME Homebuyer Purchase Assistance go through City of Kenosha, Department of City Development - Community Development Division, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact City of Kenosha, Department of City Development - Community Development Division to reserve funds

    Funds are reserved with the provider and are subject to availability.

  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.

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