​​Housing Cost Reduction Initiative (HCRI)​

​​​​​​​Program Overview

​​​​​​​​​​​​​​The Housing Cost Reduction Initiative (HCRI) was established in 1989 by the Governor and the Wisconsin Legislature​. HCRI is designed to support low- and moderate-income (LMI) households in achieving homeownership. Through this program, the State of Wisconsin allocates funds to help individuals and families access safe, decent, and affordable housing.​

The Wisconsin Department of Administration’s Division of Energy, Housing and Community Resources (DEHCR) administers HCRI funds through a biennial funding cycle, awarding grants to eligible applicants across the state.

​​​​​​Eligible Activities​

Eligible HCRI Program activities include:

• Acquisition: Grantees can assist eligible homebuyers purchase affordable homes by providing down payment support​, closing costs, and/or gap financing assistance to make homeownership attainable.
  

• Foreclosure Prevention: Grantees can provide financial assistance on behalf of homeowners to prevent foreclosure and/or utility disconnection. Costs may include mortgage payments, property taxes, 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.  ​​​

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