The key to affordable housing production is filling the gap between what housing costs to produce or manage, and what low-income households are able to pay. As experts in affordable housing finance, Partnership staff find ways to place essential funds in affordable housing projects at the right time. We have created and managed a number of housing finance programs to meet the development, rehabilitation and home ownership needs of home buyers, neighborhoods, individual communities and metropolitan areas.

We currently manage several down payment assistance and rehabilitation loan programs that either help make the dream of home ownership come true for lower-income households, or help them maintain their homes. In addition, our experience includes creation and management of multimillion-dollar capital pools to provide low-interest loans, equity investments and forgivable loans. We have also designed and managed programs that financed housing development, rehabilitation and energy conservation measures for developers, investor-owners and individual owners.

• Downpayment Plus/Downpayment Plus Advantage – Statewide in Wisconsin
• HOME Consortium – Jefferson, Ozaukee, Washington and Waukesha Counties

Buying a home is the primary way for most households to build assets in the American economy. But lower-income households often need help to make a successful transition from rental to home ownership.

We continually seek ways to work with other nonprofits on expanding and strengthening their home ownership support programs. In our management of the Downpayment Plus and Downpayment Plus Advantage Programs and loan programs for the HOME Consortium, we work closely with nonprofit and public sector counseling agencies to make sure homebuyers are well prepared.

Foreclosure Intervention

One of the Partnership’s newest initiatives will provide financial assistance to homeowners facing foreclosure in Jefferson, Ozaukee, Washington and Walworth Counties. An expansion of our support for the Home Consortium in the four counties, the program will pay a homeowner’s delinquent mortgage and real estate tax payments and help with ongoing payments while the homeowner negotiates with her or his mortgage lender for a loan modification, a short sale or some other way to avoid foreclosure. The program will also pay for counseling to the homeowner to make sure they clearly understand their options and have help with the negotiations.

The program is funded by the Housing Cost Reduction Initiative administered by the Wisconsin Division of Housing and Community Development.

For information please contact Michael Benharroch of Housing Resources, Inc.

He can be reached by email Michael_Benharroch@hri-wi.org  or by phone at 262-522-1230.

One of the most direct ways we encourage and support home ownership people across a wide range of incomes is to build well-designed, energy-efficient and affordable new homes for sale. We also restore previously-owned homes to create attractive and affordable home ownership options.

The mixed-income projects we develop, such as Coachyard Square and The Uplands, are designed to provide more than an affordable home. They foster resident interaction and community involvement by building homes closer to sidewalks with front porches and areas where people can meet their neighbors.

That’s also true of Oak Glen, developed by Habitat for Humanity of Dane County. We’re proud to be Habitat’s partner in creating a vibrant mixed-income new neighborhood.

Development projects where we currently have homes or homesites for sale include:

• Oak Glen – Madison
• The Uplands – Sun Prairie
• Restoration Homes – Appleton, Madison, New Richmond, Waukesha