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Get Matched Free →Homebuyer Programs in Beloit, WI (2026)
Beloit is a city in Rock County, Wisconsin, located along the Illinois border at the confluence of Turtle Creek and the Rock River. With a median home price around $210,000, Beloit is one of the most affordable housing markets in southern Wisconsin. Homebuyers here benefit from several strong local programs. The Rock County Down Payment Assistance Program provides forgivable loans up to $5,000, and NeighborWorks Blackhawk Region offers multiple DPA products including forgivable, deferred, and repayable loans for buyers in Beloit. The Downpayment Plus Program through FHLBank Chicago adds up to $6,000 in forgivable grant assistance. Combined with WHEDA state loan programs offering up to 6% of the purchase price, Beloit buyers can stack significant assistance to cover most or all of their down payment and closing costs.
County Programs in Rock County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Rock County Down Payment Assistance Program | Forgivable Loan | Up to $5,000 | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $5,000
- First-time only:
- Yes
State Programs in Wisconsin
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| WHEDA Advantage Conventional Loan | Government-Insured Mortgage | Low down payment first mortgage (as low as 3% down) | Yes | View → |
| WHEDA Advantage FHA Loan | Government-Insured Mortgage | Low down payment first mortgage (3.5% down) | Yes | View → |
| WHEDA Capital Access DPA | Deferred Loan | Up to $7,500 (between $3,050 and 3% of purchase price) | Yes | View → |
| WHEDA Easy Close DPA | Repayable Loan | Up to 6% of purchase price | Yes | View → |
| WHEDA Tax Advantage (Mortgage Credit Certificate) | Tax Credit | Up to $2,000 per year in federal tax credits | Yes | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Low down payment first mortgage (as low as 3% down)
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Low down payment first mortgage (3.5% down)
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $7,500 (between $3,050 and 3% of purchase price)
- First-time only:
- Yes
- Type:
- Repayable Loan
- Amount:
- Up to 6% of purchase price
- First-time only:
- Yes
- Type:
- Tax Credit
- Amount:
- Up to $2,000 per year in federal tax credits
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Downpayment Plus Program (FHLBank Chicago) | Grant | Up to $6,000 (3:1 match of buyer contribution, max $6,000) | No | View → |
| Habitat for Humanity WJR Rock County Homeownership Program | Zero-Interest Loan | Affordable mortgage with 0% interest (home sold at no profit) | No | View → |
| NeighborWorks Blackhawk Region Down Payment Assistance | Forgivable Loan | Varies by program type (forgivable, deferred, or repayable) | Yes | View → |
| Wintrust Mortgage Down Payment Assistance | Grant | $2,000 | No | View → |
- Type:
- Grant
- Amount:
- Up to $6,000 (3:1 match of buyer contribution, max $6,000)
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with 0% interest (home sold at no profit)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Varies by program type (forgivable, deferred, or repayable)
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- $2,000
- First-time only:
- No
How to Apply
Check your eligibility. Most programs serving Beloit require household income at or below 80% of the Rock County area median income and that you have not owned a home in the past three years.
Complete homebuyer education. Contact NeighborWorks Blackhawk Region at 608-362-9051 to enroll in their HUD-approved homebuyer education and counseling program. Completing their course opens access to multiple DPA products.
Explore your program options. NeighborWorks Blackhawk Region offers forgivable, deferred, and repayable DPA for Beloit buyers. The Rock County DPA program provides up to $5,000 in forgivable loans. The Downpayment Plus Program offers up to $6,000 in grants. Your housing counselor will help determine which programs you qualify for.
Get pre-approved for a mortgage. Work with a WHEDA-approved lender or a local institution like First Community Credit Union, which has a branch in Beloit and offers mortgage products.
Find a home in Beloit within your budget and any applicable program limits. Homes in NeighborWorks Blackhawk Region priority neighborhoods may qualify for additional forgivable assistance.
Submit your applications. Once you are under contract, your lender and housing counselor will help you apply for the DPA programs you qualify for. Funds are typically applied at closing toward your down payment and closing costs.