Wisconsin Down Payment Assistance and Grant Locator

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Loan Programs

 

CBC offers Zero down Conventional and FHA loans with no Income Limits as well as reduced interest loans with income limits.

 

Unison Home Ownership Investors offer matching down payment loans for purchase prices up to Ten Million Dollars.

 

FIRST MORTGAGE PROGRAMS

 

Conventional Loans

 

CBC Conventional 97 Loan Program 
The CBC Conventional 97 program is a conventional first mortgage with no max income limit for qualifying. This loan is fully amortized for a 30-year term and is combined with the CBC down payment assistance loan for closing costs.  You can own a home and use this program to buy a new primary residence.

CBC Conventional Loan Program 
The CBC Conventional program is a conventional first mortgage with reduced interest rates. This loan has income limits that are 100% of the AMI.  This loan is fully amortized for a 30-year term and is combined with the CBC down payment assistance loan for closing costs.

 

Government Insured Loans

 

CBC DPA Edge Loan Program 
The CBC DPA Edge program is a FHA first mortgage with no max income limit for qualifying. This loan is fully amortized for a 30-year term and is combined with the CBC down payment assistance loan for closing costs.  Max Purchase price is equal to FHA Loan Limit for the county.

CBC Rate Advantage Loan Program 
The CBC Rate Advantage program is a FHA first mortgage with 115% AMI income limit for qualifying. This loan is fully amortized for a 30-year term and is combined with the CBC down payment assistance loan for closing costs.  Max Purchase price is equal to FHA Loan Limit for the county.

 

DOWN PAYMENT ASSISTANCE PROGRAMS

 

The money you put “down” or the down payment on your home loan can be one of the largest hurdles for many first-time home buyers. That’s why CBC offers several options for down payment and closing cost assistance. This type of assistance is often called a second or subordinate loan. CBC’s subordinate loans can be “soft seconds” or “repayment seconds” depending on what is best for the buyers situation.

CBC Soft Second 
The CBC soft second can be forgiven after 36 on time payments on your first mortgage.  If you miss a payment the 36 on time payments start over from zero.

CBC Repayment Second 
The CBC repayment second can be one of the following.  10 year at zero interest, 30 year at 5% interest, 10 year at 2% higher rate than the CBC first mortgage or 10 year at 8%.  The type of second you can use depends on which 30 year fixed first mortgage product you are using.

CBC DPA Edge Loan Program 
The CBC DPA Edge program is a FHA first mortgage with no max income limit for qualifying. This loan is fully amortized for a 30-year term and is combined with the CBC down payment assistance loan for closing costs.  Max Purchase price is equal to FHA Loan Limit for the county.

MORTGAGE CREDIT CERTIFICATE TAX CREDIT PROGRAM

Mortgage Credit Certificate Tax Credit Program (MCC)
A federal credit which can reduce potential federal income tax liability, creating additional net spendable income which borrowers may use toward their monthly mortgage payment. This MCC Tax Credit program may enable first-time homebuyers to convert a portion of their annual mortgage interest into a direct dollar for dollar tax credit on their U.S. individual income tax returns.

It does not matter if you are buying your first home or your last home.

Most people agree that you should take certain steps when buying any home.  The first and most important step is to find out if you qualify and how much you qualify for.   The second step is to find out what your payments will be.  Many sites do not add Insurance, Taxes, Mortgage Insurance or Association Dues.  These fee’s can be as much as your principle and interest payment that is show on most Real Estate Sites.