WHEDA Loan

WHEDA Mortgage Loans are underwritten to guidelines set forth by the State of Wisconsin, Fannie Mae, and FHA.

This State of Wisconsin affordable lending solution is designed to help first time home buyers, Veterans, and low to moderate income families achieve homeownership. The loan program provides purchase money mortgages at below market interest rates with little or no money required to close.

Get a No-Obligation Rate and Closing Cost Analysis!

Choose Your Option.

PURCHASE REFINANCE REFINANCE CASH-OUT

Who can get a WHEDA Loan?

The best WHEDA programs are for first time home buyers and Veterans with annual household income below the area median income limit. It will provide financing on 1-4 unit residential properties to be used as primary residences. To qualify for a WHEDA loan, you’ll need a minimum 620 credit score and maximum debt to income ratio of 45% (exceptions made up to 50% with compensating factors). The little or no money down offerings are typically only approved with a minimum credit score of 720.



Benefits WHEDA Loans::

  • Buy a home with little or no money down

  • Below market 30 fixed rates available for first time home buyers and Veterans

  • Reduced Mortgage Insurance (PMI) available

  • Clients with a previous bankruptcy can qualify 2-4 years after discharge

  • Clients with a previous foreclosure can qualify 3-7 years after Sheriff’s Deed Transfer