WHEDA Home Loan Programs

Wisconsin Housing and Economic Development Authority loan programs are designed to help make homeownership more affordable for Wisconsin homebuyers. Whether you're a first-time buyer or purchasing again, WHEDA offers competitive fixed-rate mortgage options, low down payment programs, and down payment assistance opportunities to help you achieve your homeownership goals. (wheda.com)

Available WHEDA Loan Programs

WHEDA Advantage Conventional

The WHEDA Advantage Conventional program offers a 30-year fixed-rate mortgage designed for buyers looking for affordable financing with flexible options.

Program highlights include:

  • Minimum credit score of 620
  • Purchase or WHEDA-to-WHEDA refinance options available
  • Low down payment options
  • Available for:
    • Single-family homes
    • Condominiums
    • 2–4 unit properties
    • Double-wide manufactured homes
  • Property must be owner-occupied and located in Wisconsin
  • Repeat homebuyers may qualify in certain situations (wheda.com)

WHEDA Advantage FHA

The WHEDA Advantage FHA program is another affordable financing option for Wisconsin buyers who may benefit from FHA financing flexibility.

Program highlights include:

  • Minimum credit score of 640
  • 30-year fixed-rate mortgage
  • Designed for primary residences in Wisconsin
  • Low down payment requirements
  • Compatible with WHEDA down payment assistance programs
  • Available for:
    • Single-family homes
    • Certain condominiums
    • 2-unit properties (wheda.com)

Down Payment Assistance Programs

WHEDA offers down payment assistance options to help reduce upfront homebuying costs.

Easy Close Advantage Program

The Easy Close Advantage program provides assistance for down payment and closing costs through a second mortgage loan.

Program features include:

  • Borrow up to 6% of the home purchase price
  • Minimum loan amount of $1,000
  • 10-year fixed-rate second mortgage
  • Interest rate matches the first mortgage
  • Monthly repayment options available (Moneywise)

Capital Access Down Payment Assistance

This program offers additional assistance with unique repayment benefits.

Program features include:

  • 0% interest second mortgage
  • No monthly payments
  • 30-year loan term
  • Available with eligible WHEDA mortgage programs
  • Income restrictions may apply (Moneywise)

Additional WHEDA Benefits

Depending on eligibility, WHEDA programs may also offer:

  • Reduced mortgage insurance costs
  • Renovation financing options
  • Special rates for eligible rural target areas
  • Flexible underwriting guidelines
  • Homebuyer education resources
  • Opportunities for up to 100% financing in some situations (wheda.com)

Who May Qualify?

WHEDA loans may be a great fit for:

  • First-time homebuyers
  • Repeat homebuyers
  • Buyers with limited savings for a down payment
  • Moderate-income households
  • Buyers purchasing a primary residence in Wisconsin
  • Homebuyers looking for stable fixed-rate financing (wheda.com)

Homebuyer Education

Some WHEDA programs require completion of a homebuyer education course before closing. These courses help buyers better understand the mortgage process, budgeting, homeownership responsibilities, and financing options. (wheda.com)

Ready to Get Started?

Our team is here to help you explore your WHEDA financing options, review eligibility requirements, and guide you through the mortgage process from pre-approval to closing. Contact us today to learn more about available WHEDA loan programs and down payment assistance opportunities.