Frequently
Asked Questions

No — the entire education series is free for all participants!

The Wealth Building Course is fully online and self-paced, making it easy for families to access. It’s led by Black and brown instructors and includes six sessions with videos, quizzes, and homework. For the Homeownership Course, some sessions are required to earn your certificate of completion. You’ll also be paired with a mentor to provide personalized support along the way.

Yes! We include assignments to help you along your financial journey. Since everyone’s financial background is different, the assignments allow us to give each family the support they need to become homeowners.

Absolutely! We offer classes twice a year. If you finish the Wealth Building Course and aren’t quite ready for the Homeownership Course, just hold on to your certificate of completion. When you’re ready, reach out and we’ll help you get enrolled. Email: [email protected].

Our education program and grant application process is open to everyone who meets the eligibility requirements — no matter your race or ethnicity. Given the historical inequities in homeownership and through our strategic community partnerships, our work is unapologetically focused on helping Black and brown first-time home buyers.

Not automatically. Your application for the down payment grant will be reviewed, and funds are awarded based on availability. If there are more applicants than funds, a lottery system will be used to select grant recipients.

Only people who are affiliated with our Community Partners can apply for a down payment grant after completing the education courses. As Own It grows, we will continue to add more partners to serve more members of our community. Our pilot program partnered with One City Schools, serving all families, staff, and alumni. Learn more about our Community Partners and the eligibility requirements for each group.

We are working to grow the program and expand the number of grants we can award each year. By working with Community Partners, we are able to directly reach our core audience: Black and brown families. For example, about 85% of families at One City Schools are families of color. While our courses are available to everyone, working with organizations that are focused on serving families of color aligns with our goals while ensuring compliance with the Fair Housing Act.

The down payment grants are based on the federal gift tax limit per household. For 2024, that amount is $18,000.

You may apply once you’ve completed both the Wealth Building and Homeownership courses. We have two application windows each year, in February and August. For course dates, email us at [email protected].

No, there are no income limits. Even high-income earners who typically don’t qualify for other down payment programs can apply for a grant from Own It.

You’re welcome to take our free classes, but to qualify for the grant, you must be a first-time homebuyer or a single parent with a dependent child. For the purposes of this grant, first-time home buyers are defined as not having owned a home in the last three years.

Yes, the down payment grant must be used for costs related to purchasing a home, like down payment, closing costs, or prepaids. The funds can be used for the purchase of a single-family home, condo, or duplex that you’ll live in.

No repayment is needed! Once you buy your home, the down payment and the equity it helps build are yours. Just note that the grant is not compatible with FHA, VA, or USDA loans.

The funds will be earmarked for you for one year. If you don’t buy a home within that time, the funds will return to the general pool. You can apply again later when you’re ready.

No, you can buy a home anywhere in Wisconsin. There are price restrictions, and no payback is required for the grant.

No, you can choose who you want to work with. Just keep in mind that FHA, VA, and USDA loans are not compatible with the Own It grant. We have a network of real estate professionals who have committed to be Own It Ambassadors. If your real estate agent or lender isn’t already an Own It Ambassador, we encourage you to tell them about the program!

While our program is focused on supporting Black and brown families, we don’t limit participation to only people of color to stay compliant with the Fair Housing Act. We believe everyone can benefit from learning about wealth building and homeownership, and our workshops emphasize supporting models that expand opportunities for Black and brown families.

Yes! All donations to the Own It down payment fund are tax deductible through our partnership with One City Schools Foundation, a 501(c)(3). We’ve also applied for our own 501(c)(3) status and are waiting for approval.

As a private sector initiative, all financial contributions come from community members, the real estate industry, small and medium-sized companies, and large corporations. Make a one-time donation today, or commit to recurring donations. Real estate professionals can also join the Ambassador Program.

We’ve created an innovative new model for professionals in real estate, banking, and finance to contribute to reducing the racial wealth gap and increasing homeownership for Black and brown families. Real estate and finance professionals ready to be part of the solution can join the Ambassador Program. Leading brokers and financial institutions also participate in our program and make it easy for their agents and employees to contribute to change. If you have additional questions, contact the Own It team at [email protected].