MILWAUKEE - City of Milwaukee residents can now breathe a sigh of relief because residents are now able to apply for forgivable grants when purchasing a home within city limits.
The new program is called the Milwaukee Home Down Payment Assistance Program. Alderman Russell Stamper spearheaded the initiative this year. Its main purpose is to help residents who do not exceed maximum household income limits. The program is sponsored by the city's home buying counseling agency partners ACTS Housing, Housing Resources Inc., and United Community Center.
Two types of grants are available for residents. Grants of up to $5,000 are available when purchasing a home in the City of Milwaukee, and grants up to $7,000 are available if the home is within the city's Community Development Block Grant Area boundary.
To become eligible, buyers have to be City of Milwaukee residents, not exceed maximum household income limits based on family size, live in the purchased home for a minimum of five years, and complete eight hours of counseling from a Housing and Urban Development (HUD) approved homebuyer counseling agency.
Interested applicants are encouraged to contact the partner agencies directly.
For more information, visit milwaukee.gov/mhdpa.