Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation)

What is Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation)?

Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation) is a deferred second loan for homebuyers in Multi-County County, Wisconsin, administered by WPHD / REALTORS Association of South Central Wisconsin Housing Foundation.

• The Home Start program (WPHD on behalf of the RASCW Housing Foundation) provides deferred 0% interest loans up to $6,000 or 3% of purchase price for down payment and/or closing costs across 13+ counties in South Central Wisconsin. It is not limited to first-time buyers and requires no homebuyer education.
• Up to $6,000 or 3% of price.
• 0% interest deferred.
• Not limited to first-time buyers.
• 13+ county coverage.

How much assistance does it provide?

Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation) offers up to $6,000 in assistance.

• Buyer contribution: Minimum 1% of purchase price from borrower's own funds (may be gifted); max 3% seller contribution.
• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — WPHD / REALTORS Association of South Central Wisconsin Housing Foundation determines any individual award.

Do you have to pay it back?

Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Property sold, refinanced, vacated, title transferred, or first lien repaid.
• 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?

Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation) limits household income to 80% of the area median income, which varies by county and household size.

• Maximum 80% of County Median Income for the property's county.
• 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.

What kind of home can it be used for?

Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation) can be used for Single Family and Condo.

• New construction is not eligible.
• Manufactured homes are not eligible.

Where does it apply?

Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation) serves buyers purchasing in Multi-County County, Wisconsin.

• The program targets specific areas: Dane, Sauk, Columbia, Dodge, Jefferson, Rock, Green, Iowa, Grant, Lafayette, Richland, Crawford, Green Lake counties; plus townships in Adams and Juneau.

How do you apply?

Applications for Home Start Down Payment and Closing Cost Assistance (RASCW Housing Foundation) go through WPHD / REALTORS Association of South Central Wisconsin Housing Foundation, which publishes the current terms and the application steps on its own site.

1. 1

   Contact WPHD / REALTORS Association of South Central Wisconsin Housing Foundation to reserve funds

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

2. 2

   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.