First-Time Homebuyer Grant
Make your dream of homeownership a reality
The First-Time Homebuyer Grant is a one-time financial contribution of $1,000 that will be applied toward the down payment of your mortgage loan at the time of closing. Consider it our way of saying “Welcome to the neighborhood!”
Sorry! The First-Time Homebuyer Grant application period is currently closed.
Please check back in Jan. 2025.
Details & eligibility
Want to apply? Here are the guidelines:
- You must be at least 18 years of age and applying on behalf of yourself.
- You must be a first-time homebuyer – defined as having no homeownership for the last three consecutive years from the date of your application.
- You can’t have previously received a first-time homebuyer grant from the Dupaco Foundation.
- You must currently reside in, and the home you are purchasing must be located in, one of the following counties.
- Iowa: Any county
- Illinois: Carroll, Jo Daviess, Rock Island, Stephenson, Whiteside
- Wisconsin: Columbia, Crawford, Dane, Dodge, Grant, Green, Iowa, Jefferson, Lafayette, Richland, Rock, Walworth, Waukesha
- You must secure a mortgage from a credit union that has a physical branch in a county listed above.
- Your household income must be 300% or less of the applicable Federal Poverty Level.
2024 Poverty Guidelines Number in Household 300% 1 $45,180 2 $61,430 3 $77,460 4 $93,600 5 $109,740 6 $125,880 7 $142,020 8 $158,160
Process and timeline
- Applications are reviewed every two weeks, and approval can take up to one week.
- If approved, you will need to upload a copy of your mortgage approval letter before a check can be issued.
- Following receipt of your mortgage approval letter, the check can take up to a week to be issued.
- To ensure receipt of the grant prior to your closing, a minimum of 45 days is required before closing.
Hint: A limited number of grants are available and are reserved on a first-come, first-served basis.
How to apply
02.
Gather copies of the following:
- Proof of accepted offer
- Mortgage loan application from your credit union (as proof of income)
Hint: Make sure you have digital copies of these documents to submit as part of your online application.
03.
Apply for the grant
Create a username and password to access and complete the grant application when it’s available again (Hint: Check back in Jan. 2025).
Have questions? Need help? Email us at foundation@dupaco.com.
