ATTENTION: HOWARD MANDEVILLE
MOVIN OUT INC
600 WILLIAMSON ST
MADISON, WI 53703

Telephone Numbers and Contact information
Phone #:(608) 251-4446
Phone #:(877) 861-6746
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Fax Number:(608) 819-0623

Web Page:  movin-out.org
E-mail to:   info@movin-out.org

Program Details:
Operating Agency: Movin' Out Inc. (Private, Non-Profit)
Person In Charge: Executive Director:Howard Mandeville
Hours: Monday-Friday; 8:00am-4:30pm
Eligibility: Individual or family member with a permanent disability. Household income under 80% county median income. First time home-buyer.
Fees: None.
Intake Process: Call for additional information. Application process.
Service Area: Wisconsin.

Program/Service Notes:
Movin’ Out provides information, assistance and referral on a statewide basis to people with disabilities, their families, and others assisting them in SECURING SAFE AND AFFORDABLE HOUSING. Movin' Out works collaboratively with many local and statewide housing organizations.

DOWN PAYMENT LOAN PROGRAM
During the Loan application and underwriting process, Movin’ Out, Inc. gives priority for financial assistance to persons with disabilities that result in substantial functional limitations in three or more areas of major life activity, and that are characterized by the lifelong or extended need for individually planned and coordinated care, treatment or other services. Priority for services may be given to other individuals based on individual circumstances.

WHAT IS THE MOVIN' OUT AFFORDABLE HOUSING PROGRAM (AHP) DOWN PAYMENT LOAN?
AHP down payment loan is a forgivable, deferred, zero % interest, secured loan. It can be used for down payment and closing cost assistance. There are no monthly payments. The loan is forgiven after 5 years.

WHO IS ELIGIBLE FOR THIS LOAN?
Individuals or families purchasing a home must:
1. Have household income under 80% county median income.
2. Have a family member with a permanent disability.
3. First time home-buyer (this can include some previous home owners: check with Movin' Out)

HOW ARE LOANS PROVIDED?
Current funding is available on a statewide basis. The funds are awarded to Movin' Out and Anchor Bank by the Chicago Federal Home Loan Bank. Any lender can originate the first mortgage. Loans are made available on a first-come, first-served basis and will be reserved at the beginning of the lending process to ensure that they are available at closing. The loan is secured with a note and a mortgage.

ARE THERE REPAYMENT TERMS FOR THIS LOAN?
The loan is deferred: no monthly payments. The loan is forgiven—it doesn’t need to be paid back—if the owner continues to reside in the home for at least five years. 1/60th of the loan is forgiven each month so that after five years of residence, the loan is completely forgiven.

CAN THE LOAN BE USED WITH OTHER DOWN PAYMENT ASSISTANCE?
Yes. The program can be used with a household’s personal resources and other home buyer assistance programs, such as American Dream, HCRI, CDBG, and HOME, administered by local community based organizations, housing authorities or municipalities. This loan cannot be used with other loan programs funded by the Federal Home Loan Bank, such as the Down Payment Plus program or other AHP programs.

What else is required to qualify for a loan?
MOVIN' OUT MUST BE INVOLVED BEFORE THE BUYER SUBMITS AN OFFER TO PURCHASE.
In addition to the program’s income guidelines and the requirement that at least one household member have a permanent cognitive, mental or physical disability, Movin’ Out requires the following:
1. The applicant participates in home buyer education provided by Movin' Out or another agency.
2. If the home buyer has a guardian, there must be written court permission for the purchase of the home.
3. The applicant has the continuing involvement of support services, if needed, to assure long-term success in home ownership.
4. First mortgage terms should include a fixed rate at no more than two percentage points above current WHEDA rate. The lender should not charge more than one origination / discount point.
5. Home buyer can contribute 1% of purchase price as down payment and closing costs.
HOW DOES AN APPLICANT GET STARTED?
• Review the information on this fact sheet and on our webpage, www.movin-out.org
• Contact Movin’ Out, Inc. for information and intake interview.
• Our e-mail is info@movin-out.org.
• If calling outside of Madison, use our toll free number: 877/861-6746.
• Our local Madison number is 608/251-4446.
• Leave information at extension 7 and a housing counselor will return your call within two days.
• Plan to close no earlier than a month following notification of your AHP reservation.

This information was last updated on 08/19/2008

This information is provided as is with no guarantee as to the accuracy of the information. Information is considered to be accurate as of the date of the last update, printed above. Family Resource Connection  may not be held liable for misuse of this information.