The REALTORS® Association of South Central Wisconsin Housing Foundation is a non-profit corporation dedicated to an increase in affordable housing in Dane county and those counties adjacent to Dane.

The Foundation makes available to qualified applicants a low interest, deferred payment loan to be used for the down payment and/or closing costs associated with the purchase of a home. To qualify, applicants must:

  1. Have a family income that falls below eighty percent (80%) of the county median income (see chart below).
  2. Have an accepted offer to purchase on a home in Dodge, Columbia, Sauk, Dane, Green, Iowa, Jefferson or Rock counties.
  3. Complete an application for a first mortgage loan with a primary lender.
  4. Have a primary lender submit a loan request to the Housing Foundation.

Because these are deferred payment loans, there is no repayment required until the end of the term, which is 15 years. In addition, the loan comes due if the property is sold, refinanced or vacated (becomes non-owner occupied). The Borrower may make partial or full payment of the loan at any time prior to the due date, without penalty.

2007 -- 80% of Median Income *
County
1 Person
2 Person
3 Person
4 Person
5 Person
6 Person
7 Person
8 Person
Columbia
34,650
39,600
44,550
49,500
53,450
57,400
61,400
65,350
Dane
41,250
47,150
53,050
58,950
63,650
68,400
73,100
77,800
Dodge
34,350
39,250
44,150
49,050
52,950
56,900
60,800
64,750
Green
33,250
38,000
42,750
47,500
51,300
55,100
58,900
62,700
Iowa
37,250
42,550
47,900
53,200
57,450
61,700
65,950
70,200
Jefferson
36,200
41,350
46,550
51,700
55,850
59,950
64,100
68,250
Rock
35,100
40,100
45,150
50,150
54,150
58,150
62,200
66,200
Sauk
32,250
36,900
41,500
46,100
49,800
53,500
57,150
60,850

* These income figures are obtained from HUD (Full year 2007)