WHEDA Loan Programs In Madison

Making homeownership possible for first-time home buyers.

WHEDA Loan Programs for Madison First-Time Home Buyers

If you're a first-time home buyer in Madison, the Wisconsin Housing and Economic Development Authority (WHEDA) offers specialized loan programs to make homeownership more attainable. These programs provide favorable mortgage options, down payment assistance, and educational resources tailored to your needs.

Madison First-Time Home Buyer Opportunities

Madison's housing landscape presents unique opportunities for first-time home buyers, especially given the city's housing market dynamics and youthful demographic profile.

Madison Housing Market Overview

Approximately 50% of Madison households are renters, indicating a significant portion of the population that could benefit from transitioning to homeownership.

As of January 2025, the median home price in Madison is $439,900, which is slightly above the national median home price of $396,900. However, Madison offers a balanced market with homes selling for approximately the asking price, making it an attractive option for first-time home buyers.

Madison Demographic Insights

With a median age of 30.9 years, Madison's population is notably young. Approximately 39% of residents are between the ages of 20 and 34, representing a prime demographic for first-time home buyers.

Madison Opportunities for First-Time Home Buyers

Given the substantial renter population and the city's youthful demographic, initiatives aimed at facilitating the transition from renting to homeownership are crucial. Programs like those offered by the Wisconsin Housing and Economic Development Authority (WHEDA) provide valuable resources and support for Madison residents ready to make this significant step.

By focusing on these unique aspects of Madison's housing and demographic landscape, efforts can be tailored to effectively support and encourage first-time home buyers in the city.

WHEDA Loan Options

WHEDA provides two primary mortgage options:

WHEDA Advantage Conventional Loan:
A 30-year fixed-rate mortgage available for single-family homes, condominiums, and 2-4 unit properties.

WHEDA Advantage FHA Loan:
A 30-year fixed-rate mortgage backed by the Federal Housing Administration, suitable for single-family homes, 2-unit properties, and HUD-approved condominiums.
Minimum credit score: 640.

Explore WHEDA Loans Contact a Loan Expert

Questions about Down Payment Assistance?
Call us at 608-834-5000 for more information.

Ca$h Advantage FAQs

Who Can Use A Cash Advantage Program?

  • First-time homebuyers

  • Buyers who need to sell their current home

  • Anyone using a mortgage but competing in a seller’s market

  • Buyers looking to eliminate contingencies for a smoother offer



Is There a Cost?

There is no cost to enroll in the Ca$h Advantage Program. Standard mortgage closing costs apply.

How Do I Get Started?

Schedule a consultation with Educated Mortgage to learn about Ca$h Advantage options available in your area.

Ca$h Advantage FAQs