City of Wausau Down Payment Assistance Program

City of Wausau Down Payment Assistance Program is a repayable second loan for homebuyers in Wausau, Wisconsin, administered by City of Wausau Development Division (Community Development). The City of Wausau provides low-interest installment loans of $5,000 to $10,000 to help income-qualified buyers cover the down payment and/or closing costs of a single-family home within the city limits. The loan carries a fixed 2% interest rate, a 12-15 year term, and monthly payments. The final year of payments may be forgiven if all payments are made as agreed and a 5-year residency requirement is met. Applicants must be approved before writing an offer. Loan of $5,000-$10,000 for down payment and/or closing costs. Low fixed 2% interest rate. Final year may be forgiven if all payments made and 5-year residency met. Monthly payments approx $46.90-$64.35. Funding comes from City of Wausau (CDBG / local program funds).

City of Wausau Down Payment Assistance Program offers between $5,000 and $10,000 in assistance. Homebuyer contribution: Borrower must contribute $1,000 toward the purchase and have an additional $500 in reserves ($1,500 total). Amounts are the program's published maximums, not an offer — City of Wausau Development Division (Community Development) determines any individual award.

City of Wausau Down Payment Assistance Program is a repayable second loan and is repaid under the terms set by City of Wausau Development Division (Community Development). Repayment is triggered by Monthly installments over 12-15 year term; balance due on sale, refinance, foreclosure, or if no longer primary residence. The assistance is recorded in 2nd or 3rd position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Wausau Down Payment Assistance Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Pre-Purchase Homebuyer Education & Counseling (HUD Certified Housing Counselor on city staff). Applicants MUST be approved BEFORE writing an offer; 90 days to provide an accepted offer (extensions possible). Soft-pull credit report ordered on all applicants. No outstanding judgments/collections that would supersede the City mortgage. GAPS (not stated): min credit score (no score on soft pull), max DTI, max purchase price, citizenship/residency requirement.

City of Wausau Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Gross household income within HUD 80% AMI limits effective 6/1/2026 by household size: 1=$58,050; 2=$66,350; 3=$74,650; 4=$82,900; 5=$89,550; 6=$96,200; 7=$102,800; 8=$109,450. Includes all members age 18+. 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 Wausau Down Payment Assistance Program can be used for Single Family. New construction is eligible. Manufactured homes are not eligible.

City of Wausau Down Payment Assistance Program serves homebuyers purchasing in Wausau, Wisconsin.

Applications for City of Wausau Down Payment Assistance Program go through City of Wausau Development Division (Community Development), 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.