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HOME SWEET HOME
The Home Sweet Home Program provides 0% deferred downpayment loans
to eligible households in Jefferson, Milwaukee
and Waukesha Counties purchase a home. Eligible households must be
first-time homebuyers and their household income may not exceed 80% of the
county median income adjusted by household size. Generally, qualifying
income used by lenders for first mortgage underwriting is used for program
compliance income. (See Household Income Limits) The maximum loan amount is
$1,500.
Home Sweet Home funds are extended as a deferred loan. There
are no monthly payments with this loan it is interest-free. Repayment of
the loan is due with the sale or transfer of the mortgaged property. The
loan is deferred at 0% interest.
Under this program homebuyers may use this loan with any
first mortgage. Approved by Fannie Mae; Freddie Mac; WHEDA; REDC: Federal
VA, and State
VA. Home Sweet Home funds may be used
in conjunction with other down payment/closing assistant programs
The home must be an owner-occupied, single-family detached residences or
condos. Purchase price limits apply (See purchase price limits) A Housing
Quality Standards inspection report or Home Inspection Report is required
for the Home Sweet Home program.
Down payment; all customary closing costs standard to
industry; prepaid items; and reserves and reasonable homebuyer counseling
fees, but no cash back borrower.
LOAN APPLICATION MATERIALS:
Manual Cover.doc
Table of Contents.pdf
Member
Participation Agreement.pdf
Home
Sweet Home Program Guidelines.pdf
Pre-fund Procedures.pdf
Loan Reservation
Form.pdf
Loan
Transmittal Checklist.pdf
Certification
of Borrower Eligibility (CBC).pdf
Compliance
Income Calculation Worksheet.pdf
Property Scan
Checklist.pdf
Mortgage.pdf
Assignment of
Mortgage.pdf
Truth in Lending.pdf
Consumer Universal
Note.doc
Income Guidelines.pdf
Applicant
Authorization Verification Employment-Deposit-Loans.pdf
Brochure -
Milwaukee.pdf
Home Buyer
Application.doc
Loan
Counseling Disclosure Statement.pdf
Other assistance
HOME Consortium downpayment assistance
HOME Consortium home improvement assistance
Waukesha housing programs
Moving Out
Independence First
FHLB Downpayment Plus
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