Did you know that the City of Wausau now offers a down payment assistance program (DPA) to give low-to-moderate income households a “leg up” when it comes to purchasing a home? It’s true!!! Should you qualify, Wausau offers a low interest loan to assist with closing costs and the downpayment on the purchase of a single family home the City of Wausau.
And, there is more good news! The loan limit was recently increased to $10,000 to be more in line with rising home costs, interest rate hikes as well as the competitive housing market. The loan has a 2% interest rate with repayment over 12 to 15 years. And, then there is the icing on the cake.
It’s almost too good to be true but according to information published in the City of Wausau Fall 2022 newsletter, the final year of payments will be waived if all payments prior had been made as agreed. So, what is the catch? Honestly, there doesn’t seem to be one other than qualifying and buying within city limits. But, don’t take my word for it and reach out to Shannon at 715-261-6679 to learn more.
Happy Home Buying!