Partnership Neighborhood Initiative

WHEDA® is focusing its lending efforts in the urban areas of Milwaukee, Madison, Racine, and Beloit. For a limited time, WHEDA is pleased to offer both a reduced interest rate loan as well as down payment assistance to first-time home buyers who purchase a home in specific neighborhoods.

The reduced interest rate loan offers:

A low interest rate: This loan is ¼ point below WHEDA's already low Home Loan interest rate, giving a first-time homeowner a very affordable mortgage payment.
Minimal cash required at closing: Only $500 is needed at the time of closing. There is no need to save thousands of dollars for down payment and closing costs.
Easy Close down payment assistance: Home buyers can obtain immediate access to a down payment loan of up to $4,000, featuring payments of only $38.20 per month.
Job loss payment protection: Loans will feature mandatory coverage after loan closing to cover house payments for up to six months in the event of involuntary job loss.
Access to educational resources: Borrowers receive home buyer education and counseling to help ensure future success as homeowners.

Available in neighborhoods with a high demand for affordable mortgages. First-time homebuyers who purchase a home in the following zip codes may be eligible for this reduced interest rate loan:

Beloit - 53511

Madison - 53704

Milwaukee - 53204, 53209, 53215, 53218, 53223, 53224, 53225

Racine - 53402, 53403, 53404, 53405

WHEDA wants its customers to be successful homeowners. That's why we offer home buyer education classes and access to counseling services to help people with saving for a down payment, budgeting, and correcting credit issues. At WHEDA we provide access to resources and tools to enable more Wisconsin residents the ability to buy a home sooner and with a mortgage they can afford.

Income and purchase price limits do apply. To learn more about qualifying for a WHEDA loan through the Partnership Neighborhood Initiative, call us at 1-800-628-4833.