5422Home is designed to promote home ownership pride in the City of Manitowoc and is eligible to both first time home buyers and buyers new to Manitowoc. Eligible program participants seeking to purchase property within the program area could receive a 5-year forgivable loan up to $5,000 as down payment assistance.
The MCBR Board of Directors met with April Kroner and Nicholas Mueller from the City of Manitowoc on 04/15/19. They gave the board a brief presentation about the 5422Home program.
Here are some highlights:
- No income limits
- No maximum property value limit
- Property must be in the designated area.
Click here to check if the property address is in the designated area.
- Buyer must be either a First Time Home Buyer (FTHB) or
first time home buyer in the City of Manitowoc.
- A qualified home inspector must inspect the home.
- Allows for other community seconds (Lakeshore Cap, Partners)
- Applications should be sent to the city only after the loan is approved and Inspection is completed.
Click for City of Manitowoc frequently asked questions. (FAQ)
You can also reach out to Nicholas Mueller at (920) 686-6930.