Down Payment Assistance
Downpayment assistance programs are available in Dane County through local governments, non-profits, WHEDA and the South Central Wisconsin Realtors Association. These programs are primarily available to households with incomes below 80% of the area median income.
> Downpayment Assistance Programs for the Purchasing of Property in the City of Madison
> Downpayment Assistance Programs for the Purchasing of Property in Dane County
> Downpayment Assistance Side by Side Comparison (Dane County / City of Madison)
> 2009 HUD Area Median Income Limits
Down Payment Assistance Examples
Here are three examples of how downpayment assistance can work for you and your family.
Example 1
A family of 4 is purchasing a property in the City of Madison with a purchase price of $160,000. The household income is $50,000. The household could be eligible for the following assistance if funds are available and all criteria are met:
Downpayment Assistance Source |
Maximum Amount of Assistance Based on a Purchase Price of $160,000 |
$9,600 |
|
$5,000 |
|
$3,000 |
|
Total Assistance |
$21,600 |
Example 2
A single individual with a disability who is working with Movin’ Out is purchasing a property in the City of Madison with a purchase price of $120,000. The household income is $25,000. The household could be eligible for the following assistance if funds are available and all criteria are met:
Downpayment Assistance Source |
Maximum Amount of Assistance Based on a Purchase Price of $120,000 |
City of Madison Home funds through Movin’ Out |
$36,000 |
$7,200 |
|
$10,000 |
|
$8,000 |
|
Total Assistance |
$61,200 |