Housing Loan Programs
Down Payment and Closing Cost Assistance
Please find below information about the City's housing loan programs. To apply online, please
click here or to print a paper application, click the folder icon at the top of this webpage.
Are you ready to purchase a new home but are having trouble
saving for the down payment and/or closing costs? If you plan to buy within the Janesville city limits, the City of Janesville
Community Development Authority may be able to help. Loans up to $2,500 are available to eligible families to help with down payment and closing costs. Total household income must be at or below 80% of the county median income, and a family member must have completed the Home Buyer's Workshop. Loans are forgiven over five years of continued occupancy, so at the end of five years you owe nothing. For more information, contact Neighborhood Services.
Duplex As a Starter Home Program
If the house you are planning to purchase happens to be in the
"target" area, and is a duplex, you may be eligible for this program. The program is similar to the Down Payment and Closing Cost Assistance program, but an additional $1,500 may be available to help with down payment and closing costs. For more information, contact Neighborhood Services.
Recently Purchased Rehabilitation Program
If you purchased a home in the last two years, you know that
qualifying for a home improvement loan when you have little equity can be
difficult. If your total household income is at or below 80% of the county
median income and your home is in the "target" area, you may qualify for this program. Loans up to $24,999 ($29,998 for a
duplex) are available for eligible home improvements. One-half of the loan amount is "forgiven" over ten years of continued occupancy, and you repay the other half over ten years at no interest. For more information, contact Neighborhood Services.
Home Improvement Program
If your home is in the target area, we may be able
to help with your home's remodeling. Loans of up to $24,999 ($29,998 for a duplex) are available to help families who have annual incomes at or below 80% of the county median income. We can lend up to 100% of the value of the home, and loans are made at no interest.
If you are over the age of 60 or are disabled, we defer payments until you no longer live in the home. Also, the program is available citywide. In other words, if you are over the age of 60 or are disabled and your home is within the Janesville city limits, you can participate
in the Home Improvement Program. You do not need to live within the target area. For more information contact Neighborhood Services.
What is 80% of the Rock County Median Income?
To be eligible for these City home improvement programs, your
income must be at or below 80 percent of the Rock County median income. In other words, your income must be a maximum of these dollar figures according to your family size.
| Family Size |
Income |
| 1 |
$ 36,400.00 |
| 2 |
41,600.00 |
| 3 |
46,800.00 |
| 4 |
52,000.00 |
| 5 |
56,200.00 |
| 6 |
60,350.00 |
| 7 |
64,500.00 |
| 8 |
68,650.00 |
Rental Rehabilitation Program
If you own rental property within the Janesville city limits and
you would like to make improvements, funds may be available through the HOME program. Loans of up to $14,999 per unit ($24,999 with additional restrictions) may be available, provided you have sufficient equity. The interest rate is 0% for the first five years, then converts to 5% for the remaining term of the loan. Rents for assisted units are restricted to the fair market rent for the county, and tenants must have incomes at or below 60% of the county median income. For more information, contact Neighborhood Services.