The HOME Homebuyer Program is designed to assist low to moderate income families with the purchase and/or rehabilitation of a home. Renewal Unlimited, Inc. provides assistance in the form a 0%, deferred loan as a second mortgage to be used for down payment and closing costs associated with the purchase. A homebuyer’s household income must fall below 80% of the County Median Income in order to be eligible for the program. Homebuyers must not have owned a home within a three year period. The homebuyer must also make a contribution to their purchase between $250.00 and $1,000.00 depending on their income. Homebuyer Counseling is also provided for all Homebuyer Program applicants using a one-on-one approach with each household looking for assistance. Counseling will address home buying issues including affordability, refinancing and budgeting.
Quick facts about second mortgages through the HOME Homebuyer Program at Renewal Unlimited:
The Renewal Unlimited, Inc. Homebuyer Program is committed to helping eligible families purchase an affordable home. An affordable home is defined as a home with a house payment (PITI) equal to or less than 30% of the buyer’s gross monthly income and total monthly payments equal to or less than 40% of gross monthly income.
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. Renewal Unlimited, Inc. will not provide a 2nd mortgage for a house purchase transaction that does not have a fixed rate mortgage.
The regulations, guidelines and information provided here are from the State of Wisconsin, Department of Administration and Renewal Unlimited, Inc. Information, regulations and guidelines may change and will be updated as necessary.
| Adams | 30% County Median Income | 50% County Median Income | 80% County Median Income |
|---|---|---|---|
| 1 | $13,200 | $21,950 | $35,100 |
| 2 | $16,240 | $25,050 | $40,100 |
| 3 | $20,420 | $28,200 | $45,100 |
| 4 | 424,600 | $31,300 | $50,100 |
| 5 | $28,780 | $33,850 | $54,150 |
| 6 | $32,960 | $36,350 | $58,150 |
| 7 | $37,140 | $38850 | $62,150 |
| 8 | $41,320 | $41,350 | $66,150 |
| Columbia | 30% County Median Income | 50% County Median Income | 80% County Median Income |
|---|---|---|---|
| 1 | $15,550 | $25,900 | $41,450 |
| 2 | $17,800 | $29,600 | $47,400 |
| 3 | $20,420 | $33,300 | $53,300 |
| 4 | $24,600 | $37,000 | $59,200 |
| 5 | $28,780 | $40,000 | $63,950 |
| 6 | $32,960 | $42,950 | $68,700 |
| 7 | $37,140 | $45,900 | $73,450 |
| 8 | $41,320 | $48,850 | $78,150 |
| Dodge | 30% County Median Income | 50% County Median Income | 80% County Median Income |
|---|---|---|---|
| 1 | $14,500 | $24,100 | $38,550 |
| 2 | $16,550 | $27,550 | $44050 |
| 3 | $20,420 | $31,000 | $49,550 |
| 4 | $24,600 | $34400 | $55,050 |
| 5 | $28,780 | $37,200 | $59,500 |
| 6 | $32,960 | $39,950 | $63,900 |
| 7 | $37,140 | $42,700 | $68,300 |
| 8 | $41,320 | $45,450 | $72,700 |
| Juneau | 30% County Median Income | 50% County Median Income | 80% County Median Income |
|---|---|---|---|
| 1 | $13,200 | $21,950 | $35,100 |
| 2 | $16,240 | $25,050 | $40,100 |
| 3 | $20,420 | $28,200 | $45,100 |
| 4 | $24,600 | $31,300 | $50,100 |
| 5 | $28,780 | 433,850 | $54,150 |
| 6 | $32,960 | $36,350 | $58,150 |
| 7 | $37,140 | $38,850 | $62,150 |
| 8 | $41,320 | $41,350 | $66,150 |
| Sauk | 30% County Median Income | 50% County Median Income | 80% County Median Income |
|---|---|---|---|
| 1 | $14,000 | $23,350 | $37,350 |
| 2 | $16,240 | $26,650 | $42,650 |
| 3 | $20,420 | $30,000 | $48,000 |
| 4 | $24,600 | $33,300 | $53,300 |
| 5 | $28,780 | $36,000 | $57,600 |
| 6 | $32,960 | $38,650 | $61,850 |
| 7 | $37,140 | $41,300 | $66,100 |
| 8 | $41,320 | $44,000 | $70,400 |
Housing Case Manager
Renewal Unlimited, Inc.
2900 Red Fox Run
Portage, WI 53901
608-742-5329 ext. 242
The information provided here does not reflect a complete description of programs or eligibility requirements. Guidelines for eligibility may vary by grant and by year. Please contact the program administrator for complete details.
