Down Payment Assistance Loans

First Time Home Buyer Program

Down Payment Assistance
1000 HWY 13
PO Box 430
Wisconsin Dells, WI 53965
(608) 254-8353


new homeowners

Program Features

  • Loan to support purchase of single family home you will live in
  • Loan is 0% interest deferred payment
  • No payment on the loan is required until the home is sold, or is no longer the borrower’s primary residence
  • The maximum amount allowed for a 2nd mortgage through the Homebuyer Program is $10,000 and may be applied to lender required down payment

Borrower Requirements

  • Meet program income guidelines
  • Be mortgage ready and able to secure affordable superior mortgage loan from Bank, Credit Union, USDA Rural Development or other conventional lender
  • Complete Home Buyer Education course provided by a HUD approved counseling agency
  • No land contracts allowed
  • Must provide a cash contribution of at least $1,000 towards the home purchase
  • Must qualify for a conventional loan through a reputable lender
  • To increase the probability that a house payment will remain affordable, the 1st mortgage used to purchase a home must be a fixed rate mortgage. CWCAC Inc. will not provide a 2nd mortgage for a house purchase transaction that does not have a fixed rate mortgage.
  • The homebuyer’s household income must be at or below 80% of County Median Income (CMI) to be eligible for the 2nd Mortgage.

Property Requirements

  • Move in ready-must meet Housing Quality Standards at the time of purchase
  • Property value must not exceed HUD established county limits
  • Must be fee simple title at purchase
  • Homes that qualify for a 2nd mortgage can be stick built, modular, new manufactured or condominium on a permanent foundation. A home on a rented or leased lot does not qualify.