Home Ownership

Shared Appreciation for Long-Term Affordability

Since 1999, Common Wealth has purchased, rehabbed, and re-sold 34 properties to first-time lower-income home buyers. Most of these homes have been two-unit properties, though some were single-family homes.

In addition to Common Wealth’s goal of providing affordable home ownership opportunities, the staff also provides one-on-one home ownership counseling. A Lease-Purchase Program resident may rent a house for a period of time with an option to buy. A portion of the resident’s rent is deposited into a down payment account. Common Wealth provides 0% second mortgage financing which helps to reduce housing costs. A shared appreciation agreement helps keep these Lease-Purchase Program houses affordable into the future for low to moderate-income households.

To qualify for this program, a person must be a first-time homebuyer, and their household income must be under 80% of Dane County Median Income adjusted for household size. As of January 2012, 80% household income for a two-person household is $52,000 – $54,400 and a four-person household income is $65,000 – $68,000.

Affordable Homeownership Interest List

Thank you for your interest in Common Wealth’s Lease-Purchase program. Please fill out this form to sign up for our Housing Interest List. When apartments become available for rent, we will notify you for the chance to apply.

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We will contact you when we become aware of an upcoming apartment opening.
Our apartments are smoke-free.
We allow most pets with the exception of dogs.

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