The REALTORS® Association of South Central Wisconsin Housing Foundation is a non-profit corporation dedicated to an increase in affordable housing in South Central and Southwest Wisconsin. Through their Home Start Program, the Foundation makes available to qualified applicants a NO INTEREST, deferred payment loan to be used for the down payment and/or closing costs associated with the purchase of a home.
Because these are deferred payment loans, there is no repayment required until the property is sold, refinanced or vacated (becomes non-owner occupied), or upon full repayment of the first lien loan. The Borrower may make partial or full payment of the loan at any time without penalty. Generally, the Foundation’s participation will not exceed 3 percent of the purchase price or $6,000, whichever is lower.
The REALTORS® Association of South Central Wisconsin Housing Foundation is a non-profit corporation dedicated to an increase in affordable housing in South Central and Southwest Wisconsin. Through their Home Start Program, the Foundation makes available to qualified applicants a NO INTEREST, deferred payment loan to be used for the down payment and/or closing costs associated with the purchase of a home.
Because these are deferred payment loans, there is no repayment required until the property is sold, refinanced or vacated (becomes non-owner occupied), or upon full repayment of the first lien loan. The Borrower may make partial or full payment of the loan at any time without penalty. Generally, the Foundation’s participation will not exceed 3 percent of the purchase price or $6,000, whichever is lower.