Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program

Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program is a forgivable loan for homebuyers in Waukesha County, Wisconsin, administered by Waukesha County Community Development (Waukesha HOME Consortium). The Waukesha HOME Consortium (Waukesha, Washington, Ozaukee, and Jefferson Counties) offers a Purchase/Rehab Program providing two loans closed at home purchase: a Down Payment Assistance forgivable loan of up to $10,000 for down payment and/or closing costs, and a 0% interest deferred Homeowner Rehabilitation Loan up to $24,999. The DPA loan is forgiven at 20% per year over five years. Forgivable DPA loan up to $10,000 (down payment/closing costs); paired 0% deferred rehab loan up to $24,999. Funding comes from HUD HOME Investment Partnerships Program.

Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program offers up to $10,000 in assistance. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — Waukesha County Community Development (Waukesha HOME Consortium) determines any individual award.

Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by sale, transfer, or ceasing owner-occupancy before 5 years. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required. Household income below 80% of county area median. Home must be owner-occupied single-family attached or detached unit. After-rehab value below HUD limits per county (e.g., Waukesha $341,000; Washington $312,000; Ozaukee $343,000; Jefferson $254,000 existing / $312,000 new). Apply through a participating lender. Must complete HOME Consortium homebuyer counseling before DPA funds released. May be combined with other DPA programs. Forgiven over 5 years (20%/yr) if home remains primary residence. Serves Waukesha, Washington, Ozaukee, and Jefferson counties.

Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program limits household income to 80% of the area median income, which varies by county and household size. Annual household income below 80% of the area/county median income. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program caps the purchase price as follows: After-rehab value must be below HUD limits per county (Waukesha $341,000; Ozaukee $343,000; Washington $312,000; Jefferson $254,000 existing / $312,000 new), effective 7/1/2023.

Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program serves homebuyers purchasing in Waukesha County, Wisconsin.

Applications for Waukesha HOME Consortium Down Payment Assistance / Purchase-Rehab Program go through Waukesha County Community Development (Waukesha HOME Consortium), 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.