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Lending a Helping Hand
Downpayment Plus Program
If you’re applying for a mortgage, you may be eligible for a down-payment assistance grant of up to $10,000 through the Federal Home Loan Bank of Chicago (FHLBC). The grant program, called Downpayment Plus, provides income-eligible homebuyers assistance with a down payment, closing costs or homebuyer education costs.
To be eligible, you must meet eligibility and income requirements, including:
- Contributing at least $1,000 toward your home purchase1
- Using the home as your primary residence for five years2
- Attending pre-purchase homebuyer education and counseling seminars
- Earning less than or equal to 80 percent of the area median income, based on income guidelines and family size published annually by the U.S. Department of Housing and Human Development (HUD)3
Funds for the Downpayment Plus grant are limited and will be awarded until funds are depleted. The maximum grant is the lesser of $10,000 or 25% of the first mortgage amount, and up to $500 of the grant may be used to offset required counseling that is required for the grant's approval. Advertised programs are subject to change at any time. Not all applicants are eligible for the products offered, and qualifications apply. Just ask us for details.
Low-Down-Payment Options
Tri City offers many low-down-payment loans, in some cases 3% or less, using WHEDA or Home Possible Loans. Some financing options include down payment assistance or affordable second mortgages to lower your down payment. Contact one of our experienced Mortgage Loan Officers for more information.
Improve Your Credit
Is purchasing a home or new car something you'd like to achieve? Maybe you have another financial goal that you'd like to improve your credit score for. Tri City's Credit Builder Program is designed to help those who are new to the credit system build a credit history and save for a down payment or other need.
Government Loans
We offer government loans to assist qualifying homebuyers:
WHEDA
WHEDA is the Wisconsin Housing and Economic Development Authority. The WHEDA home mortgage program provides low-down-payment, owner-occupied purchase financing for low to moderate income Wisconsin residents.
- A WHEDA Conventional Preferred Mortgage is a low-down-payment loan that does require monthly Private Mortgage Insurance (PMI) payments. A WHEDA Advantage FHA loan does NOT require monthly Private Mortgage Insurance (PMI) payments.
- A WHEDA Easy Close Advantage Loan is a second mortgage loan used toward a down payment and closing costs on a WHEDA-financed home purchase.
- The WHEDA Valor Program for Veterans offers a reduced interest rate mortgage loan for qualified veterans.
- The WHEDA Home Improvement Loan is available to low- and moderate-income Wisconsin homeowners. Loans between $10,000 to $50,000 are available.
Fixed Rate Mortgage Loans
| Product | Interest Rate | APR* |
|---|---|---|
| 30 Year Fixed Rate Mortgage | Tri City Servicing | 7.125% | 7.184% |
| 30 Year Fixed Rate Mortgage | Servicing Sold | 6.750% | 6.808% |
| 15 Year Fixed Rate Mortgage | Tri City Servicing | 6.375% | 6.469% |
| 15 Year Fixed Rate Mortgage | Servicing Sold | 6.000% | 6.093% |
| 30 Year Fixed Rate Mortgage |WHEDA First-time Homebuyer* | 6.625% | 6.703% |
Government Loans
| Product | Interest Rate | APR* |
|---|---|---|
| 30 Year Fixed Rate Mortgage |VA | 6.990% | 7.243% |
| 30 Year Fixed Rate Mortgage | FHA | 6.990% | 7.399% |