The Wisonsin Partnership for Housing Development (WPHD) offers two first time home buyer grant programs. Both programs are funded by the Federal Home Loan Bank of Chicago’s (FHLBC) Affordable Housing Program (AHP) and provide subsidies in the form of a grant to Wisconsin residents purchasing their first home.
Downpayment Plus Advantage® (DPP Advantage®) is a similar grant program, but assists very-low, low, and moderate income first time home buyers. The difference being, rather than getting the first mortgage from an FHLBC institution, the borrower would get mortgage financing through one of the programs offered by non-profit organizations in Wisconsin that provide mortgage financing directly to the homebuyer. Non-profit organizations providing direct first mortgage financing, such as Habitat for Humanity, must partner with an FHLBC member financial institution in order to access DPP Advantage.
If you have any questions regarding these programs or have difficulties accessing Downpayment Plus documents, please contact:
Heather Boggs or Lisa Kratz
608/258-5560, ext 32 or 27