Wisconsin mortgage loan - If you are a WI state resident and need a mortgage to purchase a new home or refinance an existing Wisconsin mortgage you will need to first find a Wisconsin mortgage lender to assist you with the financing.

No Doc: With this loan program you do not need to provide income documentation. This loan usually requires a very high credit score.

If you are a first time home buyer in Wisconsin, please contact me here msearing@mayfairmortgage.com for a list of realtors in your area. These real estate professionals will assist you in finding your new home, and will help you with the transaction from start to close. Buying your first home does not have to be as stressful as everyone thinks, make it easy on yourself.

There will be many different loan programs to choose from and your Wisconsin mortgage broker will be able to help you decide which program is better for you. Some of these programs are listed below

Full Doc: in this loan program you will have to provide proof of income, employment and any assets you have to qualify. You will receive the best rates on this program but you will be limited by your income as to how much you can afford and hard to prove income will not be allowed.

Stated Income: With this loan program you are allowed to state your income to make the loan process go much faster with reduced documentation. This loan program is also good if you are self employed,work for tips or have other hard to prove income.

Wisconsin Down Payment Assistance Programs - Wisconsin Down Payment Assistance Programs

Beaver Dam MSA Professional Services Housing Rehabilitation Program (HRP)
$2,500 (920) 887-4600
Clark County Down Payment and Closing Cost Loan (DPCC)
$25,000 (715) 267-7356
Dodge County MSA Professioanl Services Home Purchaser Program (HPP)
$15,000 (800) 552-6330
Douglas County Home Ownership Opportunity Program (HOOP)
$3,200 (715) 395-7335
Eau Claire Downpayment Closing Cost Assistance Program (DCCAP)
$2,500 (715) 839-4943
Green Bay NHS Inc Downpayment Assistance/Closing Cost Assistance Program
$5,000 (920) 448-3075
Green County MSA Professional Services Home Purchaser Program (HPP)
$25,000 (800) 552-6330
Janesville Downpayment & Closing Cost Assistance Program (DCCAP)
$3,500 (60 755-3067
Manitowoc County Hmong Mutual Assistance Association Housing Cost Reduction Initiative Program (HCRI)
$2,500 (920) 458-0808
Milwaukee County Suburban First Time Homebuyers Program (FTHP)
$5,000 (414) 278-4877
Milwaukee Neighborhood Housing Services, Inc Homeownership Consortium Reduction Initiative (HCRI)
$2,500 (414) 383-2272
Northwest Wisconsin Home Purchase Program (HPP)
$25,000 (715) 635-2197
Racine Homebuyer Downpayment Assistance Program (HDAP)
$7,455 (262) 636-9151
Rock County Home Purchase Assistance (HPA)
$45,000 (60 757-5587
Rusk County Homestead Opportunity Program
$25,000 (715) 532-9075
Sheboygan County Hmong Mutual Assistance Association Housing Cost Reduction Initiative Program (HCRI)
$3,500 (920) 458-0808
Sheboygan Downpayment Assistance Program (DAP)
$3,500 (920) 458-0808
Waukesha County HBC Services Inc Grant Program (GRANT)
$1,500 (262) 650-3627
Wausau House Cost Initiative Program
$3,500 (715) 261-6682
West Allis Homebuyers Loan Program
$4,000 (414) 302-8430
Wisconsin Ho-Chunk Housing Authority Down Payment Assistance Grant Program (GRANT)
$5,000 (800) 236-2260

To qualify for these programs you will have to meet certain financial and housing guidelines. Not all borrowers will qualify for down payment assistance programs.

There are many ways to secure 100% financing and securing a mortgage without a down paymnet assistance program. 100% financing will require less paperwork and eliminate potential complications between the lender and the downpayment program.

Also there are new downpayment progrms coming out all the time, so be sure to check what is available to you, in the area you are looking to purchase.

Be sure and ask your mortgage broker if the down payment assistance program requires the assistance amount to be paid back or if it is forgiven after a period of time.

Know that not all lenders will work with down payment assistance programs. If you choose to use such a program, your mortgage choices will become more limited.

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