Lakeshore CAP Home Buyer and Financial Assistance Program

What is Lakeshore CAP Home Buyer and Financial Assistance Program?

Lakeshore CAP Home Buyer and Financial Assistance Program is a deferred second loan for homebuyers in Manitowoc, Wisconsin, administered by Lakeshore Community Action Program (Lakeshore CAP).

• Lakeshore CAP helps income-eligible households purchase single-family, owner-occupied homes in Door, Kewaunee, Manitowoc, Sheboygan, or Calumet County. Following homebuyer education, direct loans with low or no interest from private, state, and federal resources may be available for down payment and closing costs.
• Direct down payment and closing-cost loans at low or no interest from private, state, and federal resources; financial planning, education, and counseling.
• Funding comes from Private, state, and federal resources.

Do you have to pay it back?

Lakeshore CAP Home Buyer and Financial Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Lakeshore CAP Home Buyer and Financial Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Lakeshore CAP Home Buyer and Financial Assistance Program sets its income limit as follows: Income-eligible households; specific limits not published online (call for eligibility requirements).

• 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?

Lakeshore CAP Home Buyer and Financial Assistance Program can be used for single_family.

Where does it apply?

Lakeshore CAP Home Buyer and Financial Assistance Program serves buyers purchasing in Manitowoc, Wisconsin.

• Targeted neighborhoods: Door, Kewaunee, Manitowoc, Sheboygan, Calumet counties.

How do you apply?

Applications for Lakeshore CAP Home Buyer and Financial Assistance Program go through Lakeshore Community Action Program (Lakeshore CAP), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Lakeshore CAP homebuyer education and counseling..

2. 2

   Contact Lakeshore Community Action Program (Lakeshore CAP) to reserve funds

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

3. 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.