June 19, 2018- Affordable housing in Madison

It is increasingly difficult to find well-situated and affordable properties in Madison.  More affordable housing and stronger neighborhoods benefit all of us by increasing property values and creating jobs in local communities.

The Wisconsin Partnership for Housing Development believes that housing advocacy means changing the way people think about housing and neighborhoods and building strong coalitions to develop more effective policy and programs.  The whole community should share the responsibility of making sure their neighbors can afford a decent place to live.

 

To support this mission the Wisconsin Partnership for Housing Development has partnered with Operation Fresh Start to renovate a home on the east side of Madison that is on the bus line, close to grocery stores and shopping!  This home is available to households that have income less than 80% of the county median income (see table below).

Household Size

Income Limit

(You can’t make more than this amount)

1

$47,600

2

$54,400

3

$61,200

4

$68,000


Income-qualified households may be eligible for up to $24,000 in down payment assistance to purchase this home.  The downpayment assistance can be used to help make this home more affordable. This assistance is offered in an amount based on need. Downpayment assistance will be calculated based upon income, other debt, and lender requirements, and can range from $0 to $24,000. When downpayment assistance is offered, there is a second mortgage placed on the property, but there are NO monthly payments associated with this assistance; it is repayable when the home is sold or if it ceases to be a primary residence. Click here to learn more about this outstanding property and please contact me with any questions!


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