Down Payment Closing Cost Grant
The Down Payment Closing Cost Grant Program provides grants of $500 to eligible applicants for down payment and closing costs when purchasing a primary residence in Dane County. The program aligns with the mission of the Home Buyers Round Table of Dane County (HBRT) to support homeownership among low- to moderate-income households (at or below 80% Area Median Income). If you have questions email us at homebuyersroundtable@gmail.com.
Eligibility Requirements
Applicants must meet the following criteria:
- Income at or below 80% AMI, as determined annually by HUD.
- Property must be located in Dane County and serve as the primary residence. Eligible properties include single-family homes, half duplexes, condos, or manufactured homes affixed to a permanent foundation.
- The applicant must have an accepted offer and close within 60 days of approval.
- Completion of a HUD-certified homebuyer education class and counseling session.
How to Apply
Applications are accepted on a rolling basis until the year’s available funds are depleted.
- The lender initiates the process by submitting the application and required documentation via email to homebuyersroundtable@gmail.com:
- HUD Approved Certificate(s) of Education and Counseling
- Letter of qualification from any DPA program or a Borrower Income Attestation Form
- The Application Review Committee evaluates the application and notifies the lender of the decision via email.
- Disbursement of Funds:
- Funds are disbursed directly to the title company via check prior to closing.
- The title company receives instructions to include the grant on the settlement statement and submit the signed ALTA post-closing.
Post-Closing the title company must provide a signed ALTA Settlement Statement showing the $500 grant was applied as intended.