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!”
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 the grant application.
Already have a username and password? Log in here.
Have questions? Need help? Email us at foundation@dupaco.com.
