Homebuyer and Rehabilitation Program

The Ashland County Housing Authority offers a deferred payment, 0 percent interest loan to eligible participants for the following counties: Ashland, Bayfield, Douglas, and Iron.

For a Home Cost Reduction Initiative Application, see this link.

This single-family program can assist homebuyers and homeowners through various activities:

Homeowner Activities:

  • Rehabilitaion – Example: alteration, improvement or modification of an existing structure.
  • Reconstruction or owner-occupied housing units – Example: rebuilding a structure on the same lot where housing is standing at the time of activity commitment, build a new foundation or repair an existing foundation.

Homebuyer Activities:

  • Aquisition – Grantees can help eligible homebuyers purchase affordable homes by providing down payment and closing cost assistance.
  • New Construction – Grantees may develop housing or may work directly with developers to construct housing.

Examples of repairs that are eligile for this program include the following:

  • Roof
  • Siding
  • Electrical

Home Cost Reduction Initiative – Home Buyer Program

This program offers a deferred payment, 0% interest loan to eligible participants for down payment and closing cost to purchase your first home.

This program may be used for reasonable down payment and closing costs to enable a LMI household to purchase a home.

Reasonable closing costs include:

  • Loan origination fees
  • Loan discount points
  • Appraisal costs
  • Credit costs
  • Credit report
  • Title search and preparation charges
  • Title insurance
  • Transfer fees
  • Recording costs
  • Surveyor charges
  • Home inspection
  • Down payment assistance

Income Guidelines for Ashland, Bayfield, Douglas, Iron, Oneida, and Vilas Counties

FAMILY SIZE

YEARLY FAMILY INCOME Ashland Bayfield Iron Oneida Vilas Counties

YEARLY FAMILY INCOME Douglas County

1

$40,250

$42,750

2

$46,000

$48,850

3

$51,750

$54,950

4

$57,450

$61,050

5

$62,050

$65,950

6

$66,650

$70,850

7

$71,250

$75,750

8

$75,850

$80,600