Do I have to be a first-time buyer for the HOME Consortium program?

The consortium's 2026 materials focus on household income, the house value cap, owner occupancy and required homebuyer counseling rather than a first-time buyer rule. Rules can change, so I confirm current eligibility with the program administrator for your situation before you rely on the loan in an offer.

Is the HOME Consortium loan a grant?

It's a forgivable loan. Waukesha County describes it as a five-year forgivable loan that's forgiven one-fifth for each full year the home stays your primary residence. If you sell, transfer title, move out or do a cash-out refinance before five years, a portion must be repaid.

Which lenders can close the Waukesha County down payment loan?

Only lenders on the HOME Consortium's participating-lender list can submit the reservation. Fairway (now Fairway Home Mortgage) appears on the list dated March 31, 2026, which means my team can handle the reservation, inspection timing and closing coordination for you. If you're comparing lenders, ask each one whether they're on the list before you apply.

What's the price limit for HOME Consortium assistance in Waukesha County?

For Waukesha County, the consortium's maximum house value is $390,000 for an existing home and $440,000 for new construction, effective December 1, 2025. Jefferson, Ozaukee and Washington counties have their own caps. Household income must also be at or below 80 percent of the county median.

Can I use an FHA loan with Waukesha County down payment assistance?

Yes. The assistance sits behind a first mortgage from a participating lender, and the consortium's lender documents include FHA-specific paperwork. Whether FHA or another first mortgage is the better fit depends on your credit, savings and the home's condition, since FHA appraisals and the consortium inspection both look closely at older homes.

Waukesha Mortgage Lender | HOME Consortium DPA, Waukesha WI

Getting a mortgage in Waukesha, WI

Waukesha buyers have a county down payment program that many lenders never mention: the HOME Consortium's forgivable loan. Fairway is on the consortium's participating-lender list, so my team can close it. Here's how it works in 2026 and how to pair it with the right first mortgage.

Ethan Brooks · Mortgage Advisor & Branch Manager, NMLS #1639987 · Updated October 2026

Waukesha CountyCounty

HOME Consortium loanCounty DPA

$390,000 existing home2026 DPA price cap

$541,287 (1 unit)2026 FHA limit

What should Waukesha buyers look for in a mortgage lender?

Look for a lender that is on the HOME Consortium's participating-lender list, understands the consortium's inspection and reservation steps, and can still close fast enough to compete.

That last part matters. The city of Waukesha mixes older homes near downtown and Carroll University with newer subdivisions on the edges of town, and the nicer homes in both draw competition. If you need assistance, the lender has to plan the reservation and inspection around your offer deadlines from day one. Fairway is on the consortium's participating-lender list as of March 31, 2026.

I also look past the assistance itself. A buyer who qualifies for the consortium loan might still be better off with a different first mortgage, a seller credit or family gift money, depending on the house. We sort that out in a customized buyer consultation before you start touring, so the pre-approval letter you hand your agent already reflects the plan.

How does the Waukesha County HOME Consortium down payment loan work?

The HOME Consortium — Waukesha, Jefferson, Ozaukee and Washington counties, administered by Waukesha County — offers a five-year forgivable loan for down payment and/or closing costs. According to the county's 2026 program page:

Amount: up to $10,000 per borrower.
Forgiveness: one-fifth is forgiven for each full year you live there. Sell, transfer title, stop living there or do a cash-out refinance early and part of it is repaid.
Income: at or below 80 percent of the county median. For Waukesha County, that's $86,700 for a household of four (limits effective June 1, 2026).
House value cap in Waukesha County: $390,000 for an existing home or $440,000 for new construction (effective December 1, 2025).
Property: owner-occupied single-family, attached or detached, including condos.
Steps: consortium homebuyer counseling before funds release, and the home must pass the consortium's code inspection before closing.

Funding comes from HUD each year, so check current funding availability before you write an offer around it.

Which Waukesha-area communities are eligible?

Every city in Waukesha County is eligible, including Waukesha itself, along with all villages except Chenequa and Oconomowoc Lake and all towns except Eagle and Ottawa, per the consortium's eligible-areas list dated January 1, 2026.

That makes the program usable in most of the county. The real constraint is the house value cap: in Waukesha, it tends to fit starter homes, older homes closer to downtown and many condos. If you're shopping a condo, read condo financing in Wisconsin first, because the building has to qualify too.

What other assistance can Waukesha buyers use?

The consortium says its loan can be combined with other assistance from state, Federal Home Loan Bank, HUD or personal sources. Common options for Waukesha County buyers:

HCRI — state-funded grants that Housing Resources Inc. lists as available for purchases in Waukesha County, subject to income guidelines.
WHEDA — statewide first mortgages and down payment assistance. See my WHEDA page.
Gift funds from family, documented correctly. Here's how gift funds work.

My first-time buyer page explains how these layer together.

What do older Waukesha homes mean for your loan?

Older homes mean more inspection items, and with assistance programs those items can become loan conditions. The HOME Consortium requires its own code inspection, and FHA appraisers flag safety issues like peeling paint on pre-1978 homes.

Plan for it: build repair negotiations into your offer, and if a house needs real work, consider an FHA 203(k) renovation loan. For 2026, HUD's FHA limit in Waukesha County is $541,287 for one unit and FHFA's conforming limit is $832,750.

How do property taxes work on a Waukesha purchase?

Waukesha property taxes are paid in arrears, so at closing the seller credits you for the portion of the year they owned the home. State law lets you pay the December bill in full by January 31 or in two installments due January 31 and July 31.

Most buyers using assistance escrow their taxes and insurance, which keeps those payments on schedule. After you move in, apply for the lottery and gaming credit on your primary residence. My office in Wauwatosa is roughly a 25-minute drive from downtown Waukesha, and my team handles Waukesha files every month with proactive updates at each milestone.