Faculty & Staff Down Payment Assistance Program
The Warhawk Real Estate Foundation ("Foundation") is an entity separate from the University of Wisconsin-Whitewater that owns a number of vacant lots within the City of Whitewater. The Foundation has created the Faculty & Staff Down Payment Assistance Program to help the University with its stated goal to "attract, retain and support sufficient numbers of faculty and staff who are committed to innovatively promoting student learning and fostering student success."
Specifically, the Down Payment Assistance Program allows full time UW-Whitewater employees to purchase a lot from the Foundation for the construction of a new house. The employee will work with the lender of their choice to secure financing for the purchase of the property. The Foundation will agree to accept $20,000 less than the appraised value of the lot provided that the employee is willing to sign a grant agreement that forgives the $20,000 over the course of five years. This grant will be fully forgiven provided that the employee maintains employment with UW-Whitewater, completes construction on the property within 24 months, and uses the home as the employee's primary residence for the five year period.
We are also in the process of constructing a second house available through this program. This house is a 3 bedroom, 2 bathroom house with an "open concept," and should be completed sometime this summer. The list price for this house is $215,000 which includes the same $20,000 discount as the vacant lots.
The Foundation is currently accepting applications to participate in this program.
Please contact Jon Enslin at x1482 or firstname.lastname@example.org with any questions.