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Wisconsin program

City of Madison Home-Buy the American Dream (HBAD)

Wisconsin route through City of Madison Community Development Division. This page stays free for the core public facts. Open paid access only when you need the full state board, related paths, and the decision layer around this program.

Deferred second mortgage Check official rules 2026-04-21
Agency City of Madison Community Development Division
Support type Deferred second mortgage
Amount highlight Down payment and closing cost assistance up to $35,000 for an eligible purchase in the City of Madison.
Last verified 2026-04-21

Use carefully

Repayment includes shared appreciation

This page stays public because the official structure is still useful, but these details should not be flattened into fake certainty.

HBAD is not a plain deferred second mortgage. Madison's public FAQ says repayment can include a proportional share of appreciation.

Decision-ready public facts

What stays free on this program page

Quick answer from published facts. Use this first, then jump to Go to Wisconsin program hub if you need the wider state context.

Amount

Down payment and closing cost assistance up to $35,000 for an eligible purchase in the City of Madison.

Type

Deferred second mortgage

Deferred shared-appreciation loan

Repayment

Madison says HBAD is a deferred shared-appreciation mortgage loan with no monthly payments. Repayment is triggered when the home is sold, no longer owner-occupied, title is transferred, or the borrower completes a cash-out refinance for something other than property improvements.

First-time buyer

Required

Program guide

What to know before you click through

This is still the free fact layer. Open the official source when a detail affects eligibility, repayment, lender choice, or whether this path should stay on your shortlist.

Who qualifies?

First-time homebuyers purchasing in the City of Madison, Low-to-moderate income households meeting current city income limits, Buyers purchasing a single-family home, condominium, or one-half of a duplex, Borrowers whose first mortgage is submitted by a lender and has a term of at least 30 years

What support do you get?

Down payment and closing cost assistance up to $35,000 for an eligible purchase in the City of Madison.

Do you repay it?

Madison says HBAD is a deferred shared-appreciation mortgage loan with no monthly payments. Repayment is triggered when the home is sold, no longer owner-occupied, title is transferred, or the borrower completes a cash-out refinance for something other than property improvements.

How do you apply?

Have a first mortgage lender submit the HBAD preapproval or full application package, complete the city's required homebuyer education and counseling, use the city's 90-day preapproval when applicable, and allow at least 20 business days for the city to review a complete file before closing.

Application timing

Madison says a complete HBAD file needs at least 20 business days for review, and preapproval can be valid for 90 days.

Official source evidence

The official Madison HBAD materials say qualified first-time homebuyers may receive up to $35,000. The fact sheet and FAQ say HBAD is a deferred shared-appreciation mortgage loan with no monthly payments, while the handbook and checklist show lender-submitted underwriting, 90-day preapproval, and a 20-business-day review window for a complete file.

View official source

Last verified

2026-04-21

Effective date not captured.

Paid preview

What paid access adds for City of Madison Home-Buy the American Dream (HBAD)

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Example paid output for this program. The free page stays visible either way.

Comparison preview

City of Madison Home-Buy the American Dream (HBAD)

Amount: Down payment and closing cost assistance up to $35,000 for an eligible purchase in the City of Madison.

Repayment: Madison says HBAD is a deferred shared-appreciation mortgage loan with no monthly payments. Repayment is triggered when the home is sold, no longer owner-occupied, title is transferred, or the borrower completes a cash-out refinance for something other than property improvements.

First-time buyer: Required

Timing: Madison says a complete HBAD file needs at least 20 business days for review, and preapproval can be valid for 90 days.

Risk checks preview

What gets flagged before you call a lender

  • City of Madison Home-Buy the American Dream (HBAD) must be paired with a specific first mortgage.
  • City of Madison Home-Buy the American Dream (HBAD) can trigger repayment on sale or refinance.

Lender questions preview

Questions tied to this exact path

  • Which first-mortgage product must be paired with City of Madison Home-Buy the American Dream (HBAD), and what breaks eligibility?
  • Which events trigger repayment for City of Madison Home-Buy the American Dream (HBAD): refinance, transfer?

Action checklist preview

What you would do next

  • Confirm the first-time buyer definition before you apply
  • Review the official HBAD page for City of Madison Home-Buy the American Dream (HBAD)
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What paid research already covers in Wisconsin

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What unlocks after payment

Specific program names, source notes, current-vs-conditional judgments, and the next lender or agency questions tied to this state.

1 tracked

city and county programs

City and county down payment or closing-cost programs that never make it into the free statewide layer.

1 tracked

employer-assisted paths

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4 tracked

specialty and conditional paths

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What paid access adds after the free facts

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