For Lenders

https://www.cityofmadison.com/dpced/economicdevelopment/documents/SUBORDINATIONchecklist0820.pdfWe currently are requiring 30 days to process loan requests from time a complete loan file is received to time have check and documents ready for loan closing.

Eligible borrowers can request up to $20,000 through the Home Buy the American Dream down payment program. Minimum housing ratio for eligibility remains at 25%, unless documentation of need is submitted.

A minimum housing code inspection will be ordered for all properties located in City of Madison. Lenders will no longer need to submit third party inspection for Madison properties.  Need a private 3rd  party inspection for Dane County properties, outside the City of Madison.

These funds cannot be used with Movin' Out funds for City of Madison properties.

 

NOTE:  HANDBOOK & FORMS HAVE BEEN UPDATED July 2020.

Home-Buy the American Dream Underwriting Manual

Downloadable forms:

 

Subordination checklist

Last Updated: 08/31/2020

Contact Office of Community Development

(608) 266-4223
homeloans@cityofmadison.com

 

Mailing Address
Office of Community Development
P.O. Box 2627
Madison, WI 53701-2627

 

Location
215 Martin Luther King Jr Blvd, Suite 300
Madison WI 53703

 

Hours of Operation
The Office of Community Development is open during regular business hours, however, appointments are strongly encouraged.