Homes 4 Sale

Homebuyers must have a combined household income below 80% of County Median Income (CMI).

Click to see CURRENT INCOME LIMITS (scroll down on the linked page to Winnebago County).

In calculating income, add the gross (pre-tax) income amounts from all sources for all household members, excluding wages earned by minors, from financial aid, and benefits received for medical and child care*.

Homebuyers must be able to afford the home purchase costs including mortgage, taxes and insurance, without spending more than 32% of their month income on these expenses.

*Income calculations entail a comprehensive review of all income sources, including verifications and underwriting. Additional excluded income sources may be applicable.

The adult members of the purchasing party must complete 8 hours of approved homebuyer education training. The Winnebago Homebuyer Program administers this training in partnership with FISC.

Visit our HOMEBUYER UNIVERSITY resource page for information on homebuyer preparation.

Potential homebuyers must meet high standards of financial management, consistent with standard mortgage loan underwriting principles, including:

-- Current on all debt obligations, including credit cards, loans, judgements, and other debts.

-- Maximum household debt of 11% (not counting housing costs) of gross monthly income.

-- Demonstrated budget with ability to meet all current obligations without incurring additional debt.

-- Ability to put aside a minimum monthly amount of dollars for home purchase, home maintenance and emergency savings.

-- A minimum three years from most recent bankruptcy discharge.

-- Completion of homebuyer education course and one-on-one financial assessment.

Visit our HOMEBUYER UNIVERSITY resource page for information on homebuyer preparation.

The homebuyer will need to invest an estimated minimum of $2,100 in the purchase, while having an estimated $2,000 in set-aside emergency savings that is not spent.

Homebuyers purchasing a home from the Winnebago Homebuyer Program will be eligible for downpayment support designed to make the home affordable for LMI families, including:

-- $20,000 in 0% interest loans with deferred payments due at the time in which the homeowner sells, transfers possession, or no longer utilizes property as primary residence.

-- $2,000 in 0% interest forgivable loan with $400 forgiven for each of the first five years of homeownership.

The homebuyer is will need to qualify for first mortgage financing to cover the cost not covered by assistance and the homebuyer investment. Total monthly cost of mortgage, interest, taxes, and a $50 per month maintenance savings can not exceed 32% of gross monthly income.

All interested parties will need to complete an application with the Winnebago Homebuyer Program. Properties will be listed with a partner realtor, with information available online and home showings available.

Prior to completing the application, you are encouraged to spend a few hours reviewing the homebuyer resources at our HOMEBUYER UNIVERSITY to help determine if homeownership is right for you at this time, and what steps you can take to better position yourself for successful homeownership.

You can complete the Winnebago Homebuyer Program application by DOWNLOADING A COPY, filling it out and returning it to the office at 600 Merritt Avenue, Oshkosh, WI 54901.

The application is valid for all Winnebago Homebuyer Program purchase assistance programs.