DEHCR > Housing Cost Reduction Initiative (HCRI)

Housing Cost Reduction Initiative (HCRI)

The Housing Cost Reduction Initiative (HCRI) was created in 1989, by the Governor and the Wisconsin Legislature. The State set aside these funds to provide housing assistance to low- and moderate-income (LMI) households seeking to own decent, safe, affordable housing. The Wisconsin Department of Administration, Division of Energy, Housing and Community Resources (DEHCR) awards these funds to eligible applicants through a biennial funding cycle.

Eligible Activities

Eligible HCRI Program activities include:

Acquisition: Grantees can help eligible homebuyers purchase affordable homes by providing down payment, closing cost, and/or gap financing assistance.

Foreclosure Prevention: Grantees can provide payment on behalf of homeowner to prevent foreclosure and/or utility disconnections. Costs include payments to cover mortgage, property tax, principal, interest, and/or arrearages.

HCRI funding cannot be used to provide assistance for development costs, improvements to dwelling units, or payments on a construction or rehabilitation loan.