Local housing counseling agencies administer local, state and federal forms of down payment and closing cost funds. Each of the funding sources has their own guidelines and eligibility requirements. Many of the various funding sources can be layered together to make the most efficient housing transaction for the home buyer.
For example, at Pitney Bowes in Appleton, several funding sources were used for down payment assistance. For an individual buyer, the transaction was structured like this:
$5,000 Pitney Bowes contribution
$20,000 HOME dollars from Outagamie and Winnebago Counties.
$10,000 WHEDA down payment assistance
An additional $15,000 in Community Development Block Grant funds per buyer for property repair were also made available through Outagamie and Winnebago Counties.
Appleton County Housing Authority helped to identify and then administer these funding sources. Check with your local housing counseling agency to find out what down payment resources might be available in your community.
Housing counseling agencies like the Appleton Housing Authority are also an important resource for home buyer education and credit counseling to get buyers ready for home ownership.
WHEDA has developed a comprehensive statewide network of HUD-approved housing non-profit agencies in Wisconsin. Review this database for valuable down payment resources for your buyers and potential employers seeking to setup their own Wisconsin Housing Works programs.
Resources for Buyers
Local housing counseling agencies administer local, state and federal forms of down payment and closing cost funds. Each of the funding sources has their own guidelines and eligibility requirements. Many of the various funding sources can be layered together to make the most efficient housing transaction for the home buyer.
For example, at Pitney Bowes in Appleton, several funding sources were used for down payment assistance. For an individual buyer, the transaction was structured like this:
$5,000 Pitney Bowes contribution
$20,000 HOME dollars from Outagamie and Winnebago Counties.
$10,000 WHEDA down payment assistance
An additional $15,000 in Community Development Block Grant funds per buyer for property repair were also made available through Outagamie and Winnebago Counties.
Appleton County Housing Authority helped to identify and then administer these funding sources. Check with your local housing counseling agency to find out what down payment resources might be available in your community.
Housing counseling agencies like the Appleton Housing Authority are also an important resource for home buyer education and credit counseling to get buyers ready for home ownership.
WHEDA has developed a comprehensive statewide network of HUD-approved housing non-profit agencies in Wisconsin. Review this database for valuable down payment resources for your buyers and potential employers seeking to setup their own Wisconsin Housing Works programs.