Sold on Oshkosh Down Payment Assistance Program

What is Sold on Oshkosh Down Payment Assistance Program?

Sold on Oshkosh Down Payment Assistance Program is a forgivable loan for homebuyers in Oshkosh, Wisconsin, administered by City of Oshkosh Community Development Department, Economic Development Division.

• Sold on Oshkosh is the City of Oshkosh down payment assistance program, providing a 0% interest forgivable loan toward down payment and closing costs for buyers purchasing a primary residence in the city. Buyers purchasing within a recognized neighborhood association receive up to $7,500 (forgiven at $1,500/year over 5 years); buyers elsewhere in the city receive $5,000 (forgiven at $1,000/year over 5 years). The loan is secured by a mortgage and, if the home is sold before fully forgiven, the remaining balance is due at sale. Funds are limited and first-come, first-served.
• 0% interest forgivable loan.
• Up to $7,500 within a recognized neighborhood association.
• $5,000 city-wide otherwise.
• Forgiven over 5 years.
• Additional $5,000 forgivable incentive for reducing units in a structure.
• Funding comes from City of Oshkosh (local housing program funds).

How much assistance does it provide?

Sold on Oshkosh Down Payment Assistance Program offers between $5,000 and $7,500 in assistance.

• Buyer contribution: Borrower must contribute a minimum 1% of purchase price from their own funds.
• Amounts are the program's published maximums, not an offer — City of Oshkosh Community Development Department, Economic Development Division determines any individual award.

Do you have to pay it back?

Sold on Oshkosh Down Payment Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by If the home is sold before the loan is fully forgiven, the remaining balance is due upon sale.
• The assistance is recorded in Secured by a mortgage on the property position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Sold on Oshkosh Down Payment Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Sold on Oshkosh Down Payment Assistance Program sets its income limit as follows: Housing-related expenses cannot exceed 30% of household income; specific income limit dollars not published - contact the City at (920) 236-5058 for current limits (gap).

• 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?

Sold on Oshkosh Down Payment Assistance Program can be used for Single Family and 2-4 Unit.

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

Where does it apply?

Sold on Oshkosh Down Payment Assistance Program serves buyers purchasing in Oshkosh, Wisconsin.

• The program targets specific areas: Enhanced assistance ($7,500 vs $5,000) for purchases within a City-recognized neighborhood association; map published by the City.

How do you apply?

Applications for Sold on Oshkosh Down Payment Assistance Program go through City of Oshkosh Community Development Department, Economic Development Division, 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 HUD-approved Home Buyer Counseling Agency (required for first-time buyers; waivers for previous homeowners).

2. 2

   Contact City of Oshkosh Community Development Department, Economic Development Division to reserve funds

   Funds are reserved through Online application via Neighborly Software portal; first-come, first-served, 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.