Southeastern Wisconsin Housing Corporation: No Down Payment to Build a Home

Southeastern Wisconsin Housing Corporation works with families to help build their own homes. The loans are federally subsidized and made by Rural Development. They receive a technical assistance grant from the federal government to help these families build their own homes.

Southeastern Wisconsin Housing Corporation is located in Burlington, Wisconsin, about 25 miles south of Milwaukee. My husband and I built through this program and it gave us the start we needed. We did not have a down payment to build a new home. So a program where you can use your "Sweat Equity" as your down payment was just what we needed.

An initial credit report is run at no cost to you. Eligibility for a loan is determined on an individual basis with credit scores being an important factor.

Rural Development determines the amount of the loan the families are eligible for. They determine this by your income versus your debt load (car payment, charge card bills and loans). Once you have been determined eligible they will work with you to find a lot and house plan that will fit the lot. All of their house plans have been approved by the federal government. Next families are formed into a group with other families and they all work together to build their own homes. They provide construction supervisors to teach the families the building process, from start to finish.

They have subcontractors who do all the electrical, plumbing, heating, masonry work and excavating. But, sixty five percent of the work is to be completed by the families. Each applicant and co-applicant (if applicable) is required to work a minimum of 30 hours per week.

It is hard work building your own home. It's a lot of hours. I guess that's what they mean by "Sweat Equity". But, the end result is so worth it. The feeling you get in building your own home is ......... I think they call it .......Pride.

If you are interested in building your own home, this just might be the right program for you. I know it was for my husband and me. It truly is a wonderful program. If you are interested call Southeastern Wisconsin Housing Corporation at 1-262-763-7851 or
Toll Free at 1-877-865-1948. Ask for Cheryl or Imelda, they would be happy to give you more information or an application to fill out.