Down Payment Assistance Programs

There are many down payment assistance programs available in Dane and surrounding counties.  Some provided by employers.  Some provided by non-profit organizations.  Others provided by government agencies.  There are also down payment assistance programs offered by banks.  Associated Bank has its own proprietary down payment assistance program called Program for Assisting Today’s Homebuyer (PATH). 

PATH is a grant program funded by Associated Bank and can only be used with an Associated Bank retail first mortgage purchase or construction loan product.  What makes PATH different from many other programs offered by employers, non-profit organizations and government agencies is the PATH grant is fully forgiven at closing.  Typically, other down payment assistance programs are forgiven after five years. 

To qualify for PATH the borrower(s) income must be less than 80% of the Area Median Income (AMI).  Limits are subject to change but currently 80% of AMI for Dane and Columbia County is $89,440.  PATH for Dane and Columbia County is currently $5,000 (some limitations apply to FHA loan products).  The property must be the borrower’s owner-occupied primary residence and can be any of the following property types:

  • Single Family Detached Manufactured Housing
  • Townhouse 1-4 Family
  • Condo PUD

PATH may be used in combination with other down payment assistance programs. If any borrowers are first-time home buyers, at least one borrower must complete pre-purchase home buyer education/counseling.

For additional details and to learn more about PATH and the many other down payment assistance programs Associated Bank offers, please reach out to one of us.  We are always happy to assist.

Michael Fumelle
Assistant Vice President, Residential Lending
Office: 608-259-4263
4402 East Towne Blvd. Madison, WI 53704
NMLS ID: 523546

Jason “Smitty” Smith
Assistant Vice President, Residential Lending
Office: 608-259-3774
Cell: 608-576-7067
7722 Mineral Point Rd. Madison WI  53717
NMLS ID: 762823

Kathleen Aiken
Assistant Vice President, Private Banking Mortgage Specialist
Office: 608-873-6755
3002 Fish Hatchery Rd. Fitchburg WI  53713
NMLS# 524201