See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 10, 2026
Homebuyer Programs in Menomonee Falls, WI (2026)
Menomonee Falls is a growing village in Waukesha County, part of the greater Milwaukee metropolitan area, with a population of approximately 38,800 and a median home value around $372,000. While the Village of Menomonee Falls does not currently operate its own municipal down payment assistance program, buyers here benefit from strong county and state-level support. The HOME Consortium Down Payment Assistance program through Waukesha County provides forgivable loans up to $10,000 for down payment and closing costs. The WORTH Down Payment Assistance Program offers grants up to $8,000, and the Downpayment Plus Program through FHLBank Chicago provides forgivable grants up to $6,000 through participating lenders like Landmark Credit Union. Combined with WHEDA state programs, first-time buyers in Menomonee Falls can potentially stack over $20,000 in assistance toward their home purchase.
County Programs in Waukesha County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| HOME Consortium Down Payment Assistance (Waukesha County) | Forgivable Loan | Up to $10,000 | Yes | View → |
| WORTH Down Payment Assistance Program | Grant | Up to $8,000 | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $10,000
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $8,000
- 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 | $7,500 (0% interest, deferred second mortgage) | No | 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:
- $7,500 (0% interest, deferred second mortgage)
- First-time only:
- No
- 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 → |
| 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:
- 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 of Waukesha County Homeownership Program | Zero-Interest Loan | Affordable mortgage based on income (below-market financing) | 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 based on income (below-market financing)
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. Most programs available to Menomonee Falls buyers require household income at or below 80% of the Area Median Income for Waukesha County. For WHEDA programs, income limits are $110,700 for 1-2 person households and $127,305 for 3+ person households in non-target areas.
Step 2: Complete homebuyer education. The HOME Consortium DPA and WORTH programs require completion of a HUD-approved homebuyer counseling course before funds are released. Contact the Housing Action Coalition of Waukesha County at 262-326-5322 for local counseling options.
Step 3: Contact Waukesha County Community Development. Reach Debbie Narus at (262) 896-8170 for information about the HOME Consortium Down Payment Assistance program, which provides forgivable loans up to $10,000 for down payment and closing costs.
Step 4: Ask about the WORTH program. The WORTH Down Payment Assistance Program offers grants up to $8,000 for first-time buyers purchasing in Waukesha County. Grants are forgivable over a three-year period of owner-occupancy.
Step 5: Ask your lender about the Downpayment Plus Program. FHLBank Chicago member institutions like Landmark Credit Union can help you access forgivable grant funds of up to $6,000 for down payment and closing costs.
Step 6: Get pre-approved for a mortgage. Work with a WHEDA-approved lender to explore state-level programs like WHEDA Easy Close DPA, which offers between $1,000 and 6% of the purchase price as a second mortgage.
Step 7: Find a home and coordinate your applications. The WHEDA maximum purchase price for a single-family home in Waukesha County non-target areas is $544,232. Ensure the property meets HOME Consortium inspection requirements before closing.
Frequently Asked Questions
How much down payment assistance can I get in Menomonee Falls?+−
Do I have to be a first-time homebuyer to qualify?+−
What is the maximum home price I can pay using these programs?+−
What homebuyer education is required?+−
Does the Village of Menomonee Falls have its own homebuyer program?+−
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