Closing costs and down payments are common homebuying hurdles. Though low down payment mortgage options are readily available to homebuyers, adding that with 2 to 5 percent of a home’s purchase price in closing costs can tally up quickly. The Compass Grant Program is here to help borrowers cut down on those costs.
The Compass Grant Program is available to assist borrowers purchasing or refinancing a primary residence in approved majority-minority census tracts in Wisconsin and Illinois.
The program offers:
- 5% or $20,000 (whichever is lower) to assist with closing costs and down payment for purchase transactions
- 5% or $20,000 (whichever is lower) to cover applicable closing costs for refinance transactions
Contact one of our mortgage bankers to learn about the Compass Grant Program’s area eligibility.