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ADDI
Home
Frequently Asked Questions
Eligibility
Requirements
Property Eligibility
Homebuyer Eligibility
Assistance Available
Required Downpayment
Combined Qualifying Ratio
Loan-To-Value
Home Inspection
Lead-Based Paint
Taxes and Insurance
Stacking of Funds
Eligible Closing Costs
Repayment
Subordination
Non-Discrimination
Privacy
Appeals
Loan
Processing
Application Package
Processing
Closing
Loan Cancellation
Lender
Resources
Lender FAQ
Underwriting Guidelines
Lender Checklist
ADDI vs HOME-BUY
Downloadable Forms
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Home Inspection
The homebuyer will be required to have a home inspection completed. The home must meet the City of Madison Minimum Housing and Property Maintenance Code requirements before Madison American Dream Downpayment assistance will be provided. The City of Madison contracted inspector will provide all inspections. For newly constructed properties, a certificate of occupancy will be
accepted in lieu of a Madison Minimum Housing and Property Maintenance
Code inspection.
The Madison Minimum Housing and Property
Maintenance Code inspection fee may be granted to the homebuyer through
the Madison American Dream Program, depending on the loan amount. The inspection will be scheduled
once it is determined that the homebuyer qualifies for the program. |
