Milwaukee Home Down Payment Assistance Program aids over 1000 new homeowners

The Milwaukee Joint Committee on the Redevelopment of Abandoned and Foreclosed Homes convened on April 28, 2025, to discuss significant initiatives aimed at enhancing homeownership and addressing housing challenges in the city. A key highlight of the meeting was the ongoing success of the Milwaukee Home Down Payment Assistance Program, which has been instrumental in helping residents achieve homeownership since its inception in 2021.

Benjamin Sanchez from the Neighborhood Improvement Development Corporation reported that the program has provided substantial financial support to potential homeowners. Residents within the Community Development Block Grant (CDBG) area can receive up to $7,000 for down payment and closing costs, while those outside the area but still within city limits are eligible for $5,000. Since the program's launch, it has assisted approximately 1,000 new homeowners, with a total investment of nearly $7.3 million in down payment assistance.

The program's funding has evolved, with $1.3 million allocated during its pilot phase and over $5 million from the American Rescue Plan Act (ARPA) for the years 2022 to 2025. Despite the success, Sanchez noted that demand for assistance may exceed current funding levels, indicating a need for ongoing financial support to meet community needs.

In addition to the down payment assistance program, the committee discussed the Compliance Loan Program, which offers zero-interest loans to homeowners for addressing exterior code violations. This program, which has been operational since 2016, is funded at $1 million and typically supports around 60 projects annually. However, in 2024, only 56 projects were completed due to budget constraints, highlighting the ongoing demand for such assistance.

Both programs reflect the city's commitment to improving housing conditions and supporting residents in becoming homeowners. As the committee continues to evaluate these initiatives, the focus remains on ensuring that Milwaukee's residents have access to the resources they need to thrive in their communities.