Ho-Chunk Nation Down Payment Assistance (DPA) Program

Ho-Chunk Nation Down Payment Assistance (DPA) Program is a forgivable loan for homebuyers in Black River Falls, Wisconsin, administered by Ho-Chunk Nation Department of Housing — Home Ownership Division. Once-in-a-lifetime grant of up to $50,000 to enrolled Ho-Chunk Nation members for down payment and/or closing costs on new construction or existing home purchase. The member must secure financing for the remaining cost from an outside lender. Effective 07/01/2024 policy. Grant up to $50,000 for down payment and/or closing costs; remaining funds may apply to principal or buy down points. Funding comes from Ho-Chunk Nation tribal funds.

Ho-Chunk Nation Down Payment Assistance (DPA) Program offers up to $50,000 in assistance. Award tiers: Grant secured by a 5-year second lien. Forgiven $10,000 per year of owner-occupancy; if member resides less than 5 years, repayment prorated. Loan term: 5-year lien/forgiveness period. The program can be combined with Ho-Chunk Housing and Community Development Agency (HHCDA) DPA of $10,000 or less. Amounts are the program's published maximums, not an offer — Ho-Chunk Nation Department of Housing — Home Ownership Division determines any individual award.

Ho-Chunk Nation Down Payment Assistance (DPA) Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Prorated repayment if the member resides in the home less than 5 years; full repayment if member defaults or lender forecloses. Ho-Chunk Nation holds a 5-year second lien. 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.

Ho-Chunk Nation Down Payment Assistance (DPA) Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: No minimum credit score stated; applicant must obtain a lender pre-approval letter. A homebuyer education course is required, through Approved Home Buyer Education class through Ho-Chunk Nation or a financial institution; approved Post-Purchase class required before closing. Citizenship or immigration status: Must be an enrolled Ho-Chunk Nation member, 18 or older, legally competent. Once-in-a-lifetime benefit; using DPA removes the member from HOP/VHOP/EMA waitlists. Applicant must have no outstanding debts to the Nation. Waitlist with Elder/Veteran preference; 90 days to close.

Ho-Chunk Nation Down Payment Assistance (DPA) Program sets its income limit as follows: No income limit stated in policy; program is for income-qualified enrolled members per HHCDA materials but the HCN DOH DPA policy sets no explicit AMI cap. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Ho-Chunk Nation Down Payment Assistance (DPA) Program can be used for single_family. New construction is eligible. Manufactured homes are not eligible.

Ho-Chunk Nation Down Payment Assistance (DPA) Program names veterans and American Indian and Alaska Native homebuyers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Ho-Chunk Nation Down Payment Assistance (DPA) Program serves homebuyers purchasing in Black River Falls, Wisconsin.

Applications for Ho-Chunk Nation Down Payment Assistance (DPA) Program go through Ho-Chunk Nation Department of Housing — Home Ownership Division, 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.