- Property must be located in Wisconsin
- Must be owner-occupied for the life of WHEDA loan
- Do not have to be a first-time home buyer to utilize this program
- Minimum credit score 640 or higher
- 30-year Fixed
- Single family residence
- 2 Unit
- HUD approved Condominiums
3.5% minimum Borrower investment required on all property types, but the use of either WHEDA DPA satisfies this requirement. Must be under Total Household Compliance Income limit. Can use both WHEDA Down Payment Assistant programs? Pre-purchase Home Buyer Education (HBE) is required for First Time Home Buyers
- Pre-purchase Landlord Education is required if purchasing a 2-4 unit
Borrowers who utilize WHEDA’s Advantage Conventional First Time Home Buyer, Valor, Or Target Area purchase reduced pricing may be subject to Federal Recapture Catch. To learn more about WHEDA’s guaranty read Understanding Recapture Tax.
|WHEDA Easy Close DPA||WHEDA Capital Access DPA|
|Total Household Compliance Income limits apply based on WHEDA first mortgage||Has separate Total Household Compliance Income Limits which are generally lower|
*Actual APR may vary
BUYING A HOME IN WISCONSIN
Most major cities also have at least one down payment assistance program. They’re all likely to have similar eligibility requirements, including that you’ve completed a homeowner education course; use an approved lender; and meet local income limits. Check with your Refined Lending loan officer for other loan terms and conditions.