CDBG - Mortgage Reduction Assistance

The Dane County Department of Human Services is soliciting applications from organizations interested in operating a mortgage reduction program to promote homeownership opportunities for low-and-moderate income residents of the Dane County Urban County Consortium. The program will provide 0% interest, deferred loans for eligible first-time low- to moderate-income homebuyers. The maximum amount of funding for the Mortgage Reduction Assistance project area is approximately $448,000.00, and it is expected that multiple projects will be funded in this category. The maximum request amount per application is $225,000.00. • The program will target low-and-moderate-income households in the Dane County Urban County Consortium. • The program will provide mortgage reduction loans to eligible first-time homebuyers. • The program will require applicants to meet certain eligibility requirements, including income limits and creditworthiness. • The program will require selected subrecipients to comply with the requirements in the CDBG & Home Mortgage Reduction Assistance – Deferred Payment Loans Program Standards for operating the program. • The program will include marketing, outreach, and education components to inform potential participants of the services/activities to be provided.