Downpayment Assistance Examples
Down payment 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.
Click here for a detailed spreadsheet of all City of Madison programs and Dane County programs.
A short overview matrix is available as well for all programs….click here!
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:
Down Payment Assistance Source | Maximum Amount of Assistance Based on a Purchase Price of $160,000 |
City of Madison American Dream | $9,600 |
City of Madison Home Buy | $5,000 |
Home Start | $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:
Down Payment Assistance Source | Maximum Amount of Assistance Based on a Purchase Price of $120,000 |
City of Madison Home funds through Movin’ Out | $36,000 |
City of Madison American Dream | $7,200 |
City of Madison Home Buy | $10,000 |
Movin’ Out AHP | $8,000 |
Total Assistance | $61,200 |