WHEDA offers webinars for first-time home buyers

Events help demystify mortgages and explain the steps

From assessments to budgets to closing costs, free webinars offered by the Wisconsin Housing and Economic Development Authority will walk prospective buyers through the ABCs of purchasing a home.

With interest rates continuing at historic lows, WHEDA’s low-cost mortgages and down payment assistance are among the tools that make it possible for qualified homebuyers to save money each month compared to what they pay in rent. Homeownership also builds wealth and strengthens communities.

“Buying a home is one of the biggest, most exciting decisions we ever make,” said WHEDA CEO Joaquín Altoro. “Our online webinars help people get started and explore the process, one step at a time. Participants learn about organizing finances, understanding credit scores, getting preapproved through a WHEDA participating lender and finding the right home.”

Two initial dates have been set: Thursday, June 18 from 6 to 7 p.m. and Saturday, June 20, from 1 to 2 p.m. Register here:

• June 18 - https://attendee.gotowebinar.com/register/5912829794526629644
• June 20 - https://attendee.gotowebinar.com/register/2943728386090312460

The free events are open to residents throughout Wisconsin and will feature a presentation followed by a question and answer session.

Following the events, a recording will be posted here. Additional live sessions may be scheduled based on attendance and feedback.

WHEDA offers flexible mortgage loan products with unique financing options that appeal to first-time homebuyers including a no-down payment option, closing cost assistance and renovation loans that can be rolled into the first mortgage. First-time homebuyers account for about 96 percent of WHEDA’s loan volume and about 80% of WHEDA’s mortgage loan customers are under age 40.

WHEDA offers low-cost, 30-year fixed-rate loans that allow home buyers to close on a home with less cash out-of-pocket while securing low monthly mortgage payments. WHEDA’s strong credit rating makes these low-cost financing options possible, because WHEDA can issue bonds to generate revenue at rates below what other lenders can obtain.

WHEDA issued a $100 million revenue bond to support single family borrowers in late April and based on projected volume, anticipates issuing another $100 million bond in the fall to continue advancing economic recovery. In addition to the bonds, WHEDA uses other financing tools to make funds continuously available to qualified homebuyers.

While WHEDA is working to help more people realize the dream and benefits of homeownership, the authority continues to provide support to existing homeowners who are struggling due to job or income loss resulting from the COVID-19 pandemic. Existing WHEDA homeowners who are concerned about paying their mortgage should contact one of the authority’s service advisers at 800-562-5546 to discuss the situation as soon as possible. WHEDA will explore all options to keep people in their homes.

WHEDA mortgages are available through a network of 133 mortgage lending companies and banks statewide. More information on WHEDA single family loan products and the Find a WHEDA Lender app can be found here.

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ABOUT WHEDA

For more than 45 years, WHEDA has worked to provide low-cost financing for housing and small business development in Wisconsin. Since 1972, WHEDA has financed more than 75,000 affordable rental units, helped more than 133,000 families purchase a home and provided more than 29,000 small business and agricultural loan guarantees. WHEDA is a self-supporting public corporation that receives no tax dollars for its operations. For more information on WHEDA programs, visit wheda.com or call 800-334-6873.