See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 10, 2026
Homebuyer Programs in Wausau, WI (2026)
Wausau is a vibrant city in central Wisconsin's Marathon County with a population of approximately 39,900 and a median home sale price around $185,000, making it one of the more affordable markets in the state. The City of Wausau offers its own CDBG-funded Down Payment Assistance Program providing low-interest installment loans for down payment and closing costs. Renewal Unlimited administers the HOME Homebuyer Program, which provides a 0% deferred second mortgage for down payment and closing costs to income-eligible first-time buyers. The Downpayment Plus Program through FHLBank Chicago offers forgivable grants up to $6,000 through participating local lenders like IncredibleBank. Combined with Wisconsin state programs through WHEDA, buyers in Wausau can stack multiple sources of assistance to significantly reduce their out-of-pocket costs.
City Programs in Wausau
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| City of Wausau Down Payment Assistance Program | Repayable Loan | Low interest installment loan for down payment and closing costs | No | View → |
- Type:
- Repayable Loan
- Amount:
- Low interest installment loan for down payment and closing costs
- First-time only:
- No
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 Wausau Homeownership Program | Zero-Interest Loan | Zero-interest mortgage for a Habitat-built home | No | View → |
| Renewal Unlimited HOME Homebuyer Program | Deferred Loan | 0% deferred second mortgage for down payment and closing costs | Yes | 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:
- Zero-interest mortgage for a Habitat-built home
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- 0% deferred second mortgage for down payment and closing costs
- First-time only:
- Yes
How to Apply
Step 1: Check your eligibility. Most programs in the Wausau area require household income at or below 80% of the Area Median Income for Marathon County. The City of Wausau DPA program and the Renewal Unlimited HOME Homebuyer Program both use this income threshold.
Step 2: Complete homebuyer counseling. Renewal Unlimited provides mandatory one-on-one homebuyer counseling covering affordability, refinancing, and budgeting for all HOME Homebuyer Program applicants. WHEDA programs also require completion of a pre-purchase education course.
Step 3: Contact Renewal Unlimited. Reach them to learn about the HOME Homebuyer Program, which offers a 0% deferred second mortgage for down payment and closing costs. Your first mortgage must be a fixed rate, and you'll need to contribute between $250 and $1,000 depending on your income.
Step 4: Apply for the City of Wausau DPA Program. Visit the City of Wausau website or contact the Development Division at 715-261-6687. You'll need 3 months of bank statements and evidence of $1,500 in assets ($1,000 toward purchase plus $500 in reserves).
Step 5: Ask your lender about the Downpayment Plus Program. IncredibleBank and other FHLBank Chicago member institutions in the Wausau area 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 submit your applications. Work with your lender, Renewal Unlimited, and the City of Wausau to coordinate all program applications before closing.
Frequently Asked Questions
How much down payment assistance can I get in Wausau?+−
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?+−
What is the Renewal Unlimited HOME Homebuyer Program?+−
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