Housing Loan Programs

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Please find below information about the City's Housing Loan Programs. Before completing a full application for a home improvement loan, you may wish to complete the Home Improvement Program Self-Qualifier worksheet click here. Some of the loan programs are only offered to applicants within the target area. Completing the Self Qualifier will give you a good indication of your eligibility for the Home Improvement Program and whether or not you should apply.

Down Payment and Closing Cost Assistance

Are you ready to purchase a new home, but are having trouble saving for the down payment and/or closing costs? If you are a first-time homebuyer and plan to buy within the Janesville City limits, the City of Janesville may be able to help. Loans up to $6,000 are available to low to moderate income households to help with down payment and closing costs. To be eligible, total annual household income must be at or below 80% of the County median income, the household must complete a HUD-certified homebuyer counseling program, and/or Home Buyer Workshop. Loans are forgiven over five years of continued occupancy, so at the end of five years you owe nothing. For more detailed information about the program, click here or contact Neighborhood & Community Services at 608-755-3065.

Fix-Up Loan Program

Do you need a quick fix to your new home before you move in? The Fix-up loan program is designed to help Down Payment and Closing Cost program recipients make improvements that will bring the property into compliance with minimum housing quality standards. Up to $8,000.00 can be borrowed. One-half of the loan is forgivable over a five-year period of continued occupancy. The other half is structured as a zero-percent (0%) interest installment loan with payments over 5 years. 

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 located within Census Tract 3 or Census Tract 4, 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, click here or contact Neighborhood & Community Services at 755-3065.

Home Improvement Program

If your home was constructed prior to 1978, we may be able to help you make needed repairs to your home. 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. For more information click here or contact Neighborhood & Community Services.

What is 80% of the Rock County Median Income?

Family Size Income
1     $ 35,400.00
2     $ 40,450.00
3     $ 45,500.00
4     $ 50,550.00
5     $ 54,600.00
6     $ 58,650.00
7     $ 62,700.00
8     $ 66,750.00

Click here to download an application for any one of the loans listed above.

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 are available up to $14,999 per unit, to fund improvements such as roofing, windows, insulation, interior remodeling and mechanical systems. The loan is deferred at 0% interest during construction and converts to a Prime + 1% interest-bearing loan amortized over ten years post-construction. Landlords must agree to rent to low income tenants, or tenants with household incomes less than 60% of the Rock County median income level at Fair Market Rent levels, for an affordability period of five years following completion of the project. A Restrictive Covenant is recorded against the property for the term of the affordability period. For more information contact Neighborhood & Community Services. To print a paper application, click Rental Rehabilitation application.

Housing Loan Program Contractors

City of Janesville Housing Loan Programs emphasize the importance of craftsmanship and quality materials in work performed. Contracts for work under the City of Janesville Housing Loan Programs are awarded only to pre-qualified contractors. To obtain a contractor application click Contractor Qualification Form.

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