WAUSAU, Wis. (WSAW) -- The City of Wausau is strengthening its efforts to help keep young professionals in the city, by offering loans for housing. The “Live it up Wausau” loan gives employees, of businesses that partner with the city, financial assistance to buy a home. The catch is that the home has to be within the city.
"We feel that providing a down payment assistance loan to our employees who are working in the region helps them to get rooted and connected in our Wausau community," said Wausau Development Director Chris Schock.
The low interest loan starts at $10,000 for a typical home. But, if the home is considered historic, which is 50 years or older, you can get $15,000. The loan helps to relieve some of the financial stress during the home buying process. Blake Opal-Wahoske has one of those loans.
"We were able to plant our roots in Wausau and help us to buy a house in the city limits which we would not be able to do without this program. Also, it took the financial burden off of us initially, so we could focus on rehabbing the house," Opal-Wahoske added.
Not only can you rehab a house, the program encourages young professionals to stay in Wausau.
"There are so many efforts going on within the region, to talk about how we attract and retain the younger workforce. Live it Up is just one part of that group," Schock described.
There are other benefits that come with the loans, as well.
"I really preach about living and working in a walking and biking distance of the downtown area. So to be able to buy this home so close to my work is exactly what we were looking for," Opal-Wahoske explained.
To visit the 'Live it up Wausau" website, click link here