Housing Programs
Lease-Purchase Program
Home ownership is one of the most reliable means to self sufficiency and the primary means of wealth building for households in the U.S. The dream of home ownership can become a reality through Southwestern Wisconsin Community Action Program's (SWCAP) Lease-Purchase Program.
Participants in the Lease-Purchase Program lease a home from SWCAP for a maximum of three years. During this period, program participants will work with a SWCAP counselor to develop a customized Family Development Plan in order to reach self-sufficiency goals and prepare for the responsibilities of home ownership.
Tenants who maintain good standing will be offered the opportunity to purchase their rental unit for an affordable price with down payment assistance provided by SWCAP.
Program Eligibility:
To be eligible to participate in the Lease-Purchase Program, and ultimately qualify for a home purchase, households must:
- have an income at or below 80% of the county media.
- complete financial literacy and home buyer counseling during their tenancy.
- meet generally accepted lending standards at the end of their tenancy in order to qualify for a private lender mortgage.
Participants will further be encouraged to participate in one of several of SWCAP's Income Enhancement programs.
HOME Home Rehabilitation Loan Program
No-Interest, deferred payment loans for rehabilitation of owner-occupied properties. Loan repayment is deferred until the home is no longer the borrower's principal residence. At that time the loan is due in full. Loans can be provided for up to 100% of eligible rehabilitation cost.
HOME Home Rental Rehabilitation Loan Program
No-Interest loans, provided to landlords, for rehabilitation of rental properties. Loans are repaid over a period of 5 to 10 years. The owner must agree to comply with HUD market rent standards and rent to tenants with incomes that are below program income guidelines.
HOME Home Purchase Loan Program
No-Interest, deferred payment loans to assist with down payment and closing costs. Loan repayment is deferred until the home is no longer the borrower's principal residence. At that time, repayment is due in full. The home purchased must be either owner occupied, occupied by the purchaser or vacant at the time of purchase and must pass a Housing Quality Standards (HQS) Inspection.
Home buyers can concurrently participate in the Home Rehabilitation Loan Program to correct HQS failures — rehabilitation work must be completed within 6 months of purchase. The home buyer must secure an affordable mortgage with a reputable lender and must contribute $1,000 of their own funds towards the purchase of the property. Home buyers must complete an approved home buyer education program prior to receiving program funding.
Training
Rehabilitating Houses & Apartments Training in Wisconsin in May
Lead Hazard Control Program Fact Sheet
For More Info or To Apply, contact:
SW Community Action Program, Inc.
149 North Iowa Street
Dodgeville, WI 53533
Phone: 608-935-2326 ext 217
Fax: 608-935-2876
E mail: w.henderson@swcap.org