City of Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan

City of Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan is a forgivable loan for homebuyers in Milwaukee, Wisconsin, administered by City of Milwaukee — Neighborhood Improvement Development Corporation (NIDC). Fully forgivable second-mortgage loans of up to $20,000 to help eligible buyers purchase AND rehabilitate City-owned foreclosed homes (1-2 units) they will occupy as their primary residence. Assistance limited to no more than one half of total purchase + rehabilitation cost. Administered by the City's NIDC. Up to $20,000 forgivable second-mortgage loan toward purchase and rehabilitation of a City-owned foreclosed 1-2 unit home; technical rehab assistance from a City Rehabilitation Specialist. Funding comes from City of Milwaukee / NIDC (federal program funds).

City of Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan offers up to $20,000 in assistance. Award tiers: Forgivable over 5 years pro-rata (20%/year). Fully forgiven after living in the property 5 years post-completion; if sold during the initial 5 years, the balance must be repaid. Limited to ≤50% of total purchase + rehab cost. Homebuyer contribution: Buyers must contribute at least $1,000 of their own funds toward purchase and rehabilitation. Amounts are the program's published maximums, not an offer — City of Milwaukee — Neighborhood Improvement Development Corporation (NIDC) determines any individual award.

City of Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Repay outstanding balance if the property is sold during the initial five-year period; otherwise forgiven 20% per year. 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 Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through 8 hours of homebuyer counseling from a HUD-approved Homebuyer Counseling Agency (waivers available for previous homeowners). Residency requirement: Property must be a City-owned foreclosed home in the City of Milwaukee. RECENCY CAVEAT: program page shows last update 12/7/18 and lists 2020 orientation events; current active status / open funding should be re-verified with NIDC before publishing. Distinct from the 'Milwaukee Home Down Payment Assistance Program' — this is a purchase+rehab forgivable loan for city-owned foreclosures.

City of Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan sets its income limit as follows: No maximum income limits (per program brochure). 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 Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan caps the purchase price as follows: Limited to City-owned foreclosed properties with 1-2 housing units. Eligible property types include single_family. New construction is not eligible. Manufactured homes are not eligible.

City of Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan serves homebuyers purchasing in Milwaukee, Wisconsin. The program targets specific areas: City-owned foreclosed homes within the City of Milwaukee. Targeted neighborhoods: City of Milwaukee (city-owned foreclosure inventory).

Applications for City of Milwaukee Homebuyer Assistance Program (HBA) — City-Owned Foreclosure Rehab Forgivable Loan go through City of Milwaukee — Neighborhood Improvement Development Corporation (NIDC), 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.