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Down Payment Assistance

Using different non-profit sources, Great Midwest Bank has historically offered qualifying home buyers financial assistance in the form of down payment grants and/or deferred loans:

  • Household income limits apply and can vary by geographic location and assistance program.  By a typical example, a one person household in Milwaukee county is limited to $39,600 in gross income annually, while a two person household is limited to $45,250. 

  • Detailed income limit information by Wisconsin county can be found here;  Use the last line labeled "Low Income" for each county to determine that county's limit.  All househould income is considered when determining eligibility, including those not listed as borrowers on the loan.

  • Not all loan programs allow for down payment assistance.  Generally, Great Midwest has been able to utilize these programs in conjunction with Conventional Fixed, Conventional ARM and the WHEDA loan programs.

  •  Our most popular Grant Program has been Down Payment Plus, administered through the Wisconsin Partnership for Housing Development via the Federal Home Loan Bank.  Historically, this program has provided up to $6,000 towards down payment and homebuyer counseling fees.

  • Program availability varies throughout the year.  Listed below are links to local housing agencies and non-profit organizations that have partnered with Great Midwest in the past.  For up-to-date information and to determine your own eligibility, contact one of our Loan Officers. 


    Non-Profit Service Providers:

     Founded in 1990, Select Milwaukee is a not-for-profit organization that works directly with homebuyers, providing advice, guidance, information and resources for a successful home purchase.