Down Payment Assistance For First Time Homebuyers

Home-Buy the American Dream (HBAD) is a down payment and closing cost assistance program aimed at supporting low-to-moderate income homebuyers purchase a single-family home, condominium or one-half a duplex in the City of Madison. Applications for this program must be submitted on your behalf by a first mortgage lender.

For more information about the program and eligibility requirements please review the Home-Buy the American Dream Fact Sheet (English)  (Hmoob)  (Español).


Home-Buy the American Dream will be making the following changes effective May 1, 2023:

  1. Properties outside the City of Madison are no longer eligible for funding.
  2. Combined Loan to Value limit will increase to 105%.
  3. Applicants that do not invest in any financial retirement accounts, may request a waiver liquid asset requirements.

Processing time for Home-Buy the American Dream is 20 business days.

At the City’s expense, a Housing Quality Standards (HQS) inspection will be ordered on all properties. Properties constructed prior to 1978 will also receive a Lead-Based Paint inspection. Inspections will be conducted through the City of Madison’s contracted inspector. Any failed health and safety items must be repaired prior to closing or 60 days after loan closing, if funds are escrowed.

Home-Buy the American Dream cannot be used with other City funded down payment programs, such as Movin' Out or Habitat for Humanity.

Home-Buy the American Dream Handbook (updated October 2022)

Lenders please submit loan packages securely via email

Downloadable forms