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Housing Foundation

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

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.
    Click Income Limits 2017 for chart illustrating Median Income Levels.*
  2. Have an accepted offer to purchase on a home in Columbia, Crawford, Dane, Dodge, Grant,  Green, Green Lake, Iowa, Jefferson, Lafayette, Richland, Rock or Sauk 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 property is sold, refinanced or vacated (becomes non-owner occupied), or upon full repayment of the first lien loan. The Borrower may make partial or full payment of the loan at any time without penalty. Generally, the Foundation’s participation will not exceed 3 percent of the purchase price or $4,000, whichever is lower.

* These income figures are obtained from HUD

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