<Background and Staffing> <Introduction of Home Buyer Education and Financial Assistance Program>

<Program Description> <Eligibility Requirements> <Income Requirements> <Steps to Ownership>

Lakeshore CAP, Inc.

Noel S. Ryder, CEO

*Administrative Office:* 540 N. 8th Street Manitowoc, WI 54220 (920) 682-3737 FAX (920) 686-8700 Community Offices: Lakeshore CAP, Inc. 131 8.3rd. Avenue P.O. Box 791 (920) 743-0192 FAX (920) 746-0142 Lakeshore CAP, Inc. 930 N. 8th Street Sheboygan, WI 53081 (920) 803-9220 FAX (920) 457-9220 Lakeshore CAP, Inc. Food Pantry 1227 N. 8th Street Sheboygan, WI 53081 (920) 452-4123 *Team Leaders* Youth Services Darlene Wellner Family Development Ruth Hahnke Community Services Kate Miller Housing John Meacham Food & Nutrition Kathy Anderson Fiscal Operations Diane Leonhard Program Support Kate Miller	Emergency Housing Program: Provides assistance to people who are homeless or at risk of homelessness, Applicants must complete an intake interview and provide the date of birth, social security number and income for all household members and other relevant information regarding financial stability. CONTACT: LAKESHORE CAP, INC. PHONE: 926-682-3737 X 117
	Rental Housing: Immediate openings for spacious one bedroom apartments in Reedsville, Whitelaw and Kellnersville. Coin operated laundry, stove, and a refrigerator included. Rent based on income, subsidies may be available. CONTACT: LAKESHORE CAP, INC. PHONE: 920-682-3737 X 116
	Home Repair: Provides no interest loans for home repair and rehabilitation to income eligible, single family, owner-occupied homes purchased in the last two years. CONTACT: LAKESHORE CAP, INC. PHONE: 920-682-3737 X 113
	Home Repair: Provides low interest mortgage loans for single family, owner-occupied residential home repair. CONTACT: RURAL DEVELOPMENT PHONE: 920-683-5115
	Home Repair: Provides loans and/or grants for units occupied by income eligible applicants for home repair and rehabilitation. CONTACT: PARTNERS FOR COMMUNITY DEVELOPMENT PHONE: 920-459-2780
	Home Buyer Program: Provides assistance to households who are interested in home ownership. Low or no interest loans are available for down payment, closing costs, rehabilitation and/or acquisition to income eligible applicants who complete the requirements of the program. CONTACT: LAKESHORE CAP, INC. PHONE: 920-682-3737 Ext 113

Lakeshore CAP, Inc. - A Community Action Agency Serving Door, Kewaunee, Manitowoc, and Sheboygan Counties

Lakeshore CAP, Inc.

540 North 8th Street
Manitowoc, WI 54220

Phone: 920-682-3737
Fax: 920-686-8700

Lakeshore Community Action Program, Inc., is dedicated to helping potential home buyers overcome obstacles preventing them from obtaining safe, decent, and affordable housing.

Enclosed you will find information about Lakeshore CAP, Inc., and the Home Buyer Education and Financial Assistance Program.

The following guidelines are required to obtain financial assistance from Lakeshore CAP:

	Applicants must go through the application, pre-qualification interview and screening process with Lakeshore CAP Home Buyer Assistance Counselor.
	Applicants must meet income guidelines. The counselor will verify income.
	Applicants will be interviewed by staff to determine eligibility and appropriateness for program,
	Applicants must show a willingness to become a partner with Lakeshore CAP in the home buying process.
	Applicants must attend the Program orientation and Home Buyers classes in order to be eligible for financial assistance.
	Applicants must be able to obtain permanent mortgage financing.
	Applicants can have no more than 10% of CMI in liquid assets after purchase.

If you have any questions or need further information, please contact our office at 92O-682-3737 extension 113.

Thank you for your interest in our program.

Christine A. Loose

Christine A. Loose
Home Buyer Assistance Counselor

Send Christine Loose e-mail

Program Description

The Lakeshore CAP, Inc. Home Buyer Education and Assistance Program is designed to assist low-to-moderate income households in Door, Calumet, Kewaunee, Manitowoc, and Sheboygan Counties with the purchase of homes through down payment, closing costs and rehabilitation loans.

Eligibility Requirements

	Applicants cannot currently own a home, but need not be a first-time home buyer.
	Applicants must be verified as having low-to-moderate income (not to exceed 80% of CMI adjusted by family sire)
	Applicants will be required to attend three (3) Home Buyer Education meetings held at various times and locations in the five counties.
	Applicants will be required to obtain a budget counseling certification of attendance through an individual budget counseling, planning, saving and goal setting meeting.
	Applicants must be able obtain permanent mortgage financing.
	Applicants will agree to apply to other public funding sources allowing a variety of agencies the opportunity to assist in the home purchase and rehabilitation.
	Qualified applicants will use their "Home Buyer Education" to secure housing which meets the income and needs of the family.
	Applicants must be able to contribute at least $500 toward the down payment.
	The home must meet minimum Housing Quality Standards (HQS) to qualify for down payment assistance.
	Rehabilitation loans are available to applicants when. the home fails the HQS inspection if the repairs are minimal and the applicant has income to support additional financial assistance.
	All homes must be weatherized within Six (6) months of purchase. Weatherization assistance is available to applicants who exceed the income limits of the local weatherization agency.
	Financial assistance is secured with a secondary mortgage. and loan payments begin eighteen (18) months after the purchase of the home.
	Loan recipients will be required to attend periodic meetings with Lakeshore CAP staff throughout the repayment period of the loan to discuss home maintenance and budgeting issues.

Income Eligibility Requirements

To be eligible for the Home Buyers Education and Assistance Program, an applicant’s total household income must not exceed 80% of the County Median Income (CMU, according to family size.

Household Size	Door, Kewaunee, Manitowoc and Sheboygan Counties	Calumet County
One	26,150	27,000
Two	29,900	30,850
Three	33,600	34,700
Four	37,350	38,550
Five	40,350	41,650
Six	43,350	44,750
Seven	46,350	47,800
Eight	49,300	50,900

If you are over the maximum income limit, you are ineligible for this program.

Lakeshore CAP, Inc. reserves the right to deny assistance based on income limitations, condition of the home, availability of rehabilitation funds and/or rehabilitation which exceeds the purchase price value limits determined by the State of Wisconsin Division of Housing (DOH).