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  • Advantage Conventional Product Information

    Advantage Conventional First-Time Home Buyer (FTHB) Product Information

    The Advantage Conventional First-Time Home Buyer Program, or FTHB, offers a conventional, fixed-rate mortgage with a preferred interest rate, priced below our standard Conventional Advantage.

    FTHB interest rates can be viewed on the Daily Pricing Grid. The preferred interest rates will be reflected in the grid with the prefix of FTHB/VALOR.

    Eligibility Requirements

    First-time home buyers must meet the following FTHB Advantage eligibility requirements:

    • Borrowers must qualify for a WHEDA Advantage Conventional loan
    • Be a FTHB, defined as an individual who has not owned a principal place of residence or had the benefit of home ownership in the last three years* 
      *This requirement is waived if a borrower is a qualified military veteran (see VALOR loan guidelines), as defined in the Conventional Underwriting Guide or is purchasing a home in a federally designated Target Area
    • FTHB/VALOR Income and Purchase Price Limits apply

    Exclusions 

    • Borrowers who qualify for the FTHB program are not eligible to receive both the benefit of the FTHB preferred interest rate and the Mortgage Credit Certificate (MCC) program.
    • A FTHB preferred interest rate is not available for a WHEDA FHA Advantage loan

    Advantage Conventional Veterans Affordable Loan Opportunity Rate (VALOR) Product Information

    The Advantage Conventional Veterans Affordable Loan Opportunity Rate, or VALOR, offers qualified military veterans a conventional, fixed-rate mortgage with a preferred interest rate, priced below our standard Conventional Advantage.

    VALOR interest rates can be viewed on the Daily Pricing Grid. The preferred interest rates will be reflected in the grid with the prefix of FTHB/VALOR.

    For more information, please see the VALOR flyer in the Promotional Materials section of the Lender Toolkit.

    Eligibility Requirements

    Eligible Veterans must meet the following VALOR eligibility requirements:

    • Borrowers must qualify for a WHEDA Advantage Conventional loan
    • Be a Qualified Veteran, defined as a military veteran with an honorable discharge or release
      • Form DD-214 indicating honorable discharge or release in the Charter of Service
      • NOTE: VA Certificate of Eligibility does not replace form DD-214
    • First-time home buyer requirement is waived
    • FTHB/VALOR Income and Purchase Price Limits apply

    Exclusions

    • Borrowers who qualify for the VALOR program are not eligible to receive both the benefit of the VALOR preferred interest rate and the Mortgage Credit Certificate (MCC) program
    • A VALOR preferred interest rate is not available for a WHEDA FHA Advantage loan

    FHA Product Information

    Capital Access Advantage DPA Product Information

    Use the Capital Access Advantage to help qualify more borrowers for an affordable WHEDA mortgage. A Capital Access second mortgage is a low-cost, deferred down payment assistance loan for home buyers in Wisconsin.

    WHEDA is excited to waive the Capital Access Down Payment Assistance “high housing needs” restriction for a LIMITED time!

    FEATURES

    • Minimum loan amount $3,050
    • Maximum loan is the greater of 3% (3.5% if FHA) of the purchase prices or $3,050
    • 0.00% APR with no monthly payments
    • Can be used with both WHEDA Conventional Advantage and FHA Advantage loans
    • No pre-payment penalty

    **Limited Waiver: No property restrictions on a minimum of 425 loans.  Available on a first come, first serve basis.**
    Take advantage of this benefit today!

    Register Your 1st Mortgage and Capital Access DPA

    Documents

    Program Requirements

    Capital Access Advantage home buyers must meet the following program requirements:

    • The only cost is a recording fee of $30
    • Must pair the Capital Access Advantage with a WHEDA first mortgage loan up to 105% 
    • Eligible properties must be located in a high housing need market area - Register today to waive this restriction!
    • Income and purchase price limits apply

    How to Register or Rate Lock a Capital Access Advantage DPA loan in WHEDA-Connect

     

    Easy Close DPA Product Information

    Home Improvement Advantage Product Information

  • Pilot Loan Products

  • Milwaukee Advantage

    The Milwaukee Advantage is a first and second mortgage loan product. It can be used to acquire and rehabilitate a property or for new construction. This product is limited to specific neighborhoods in Milwaukee. Home buyer education is required as well as consultation with one of the partner agencies to scope rehab or construction efforts.

    To get started, please work with a Milwaukee Advantage Partner

    Features:

    • Up to 100% financing is available on the first mortgage
    • 150% maximum financing on the second mortgage
    • No down payment requirement
    • 0% interest with no monthly payments for 12 months while a property is under construction or being rehabbed