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A Special Day for WHEDA

On February 14th, 1989, the incredible happened as pen met paper in an enormous celebration. The stars of the event, John and Susan, experienced untold joy as they celebrated a day that would bind them together. No, they weren’t getting married, they had already done that exactly two years prior. Instead, this family from Cottage Grove was signing papers closing for their first home through WHEDA’s HOME program. However, the call for rejoicing went far beyond the small scope of their family. With the closing of the loan, WHEDA celebrated over $1 billion dollars in HOME loan financing. The incredible milestone, made possible with the help of John, Susan, and over 24,000 other families across the state, marked the health of the Authority and the state of the Wisconsin housing market.

In just under seven years from its inception in 1982, the HOME program provided hope to countless homeowners searching for their piece of the American dream. In 1989, the HOME program accounted for 5% of all mortgages throughout the state, becoming a principal means of homeownership in Wisconsin.

From its $250,000 in initial seed money in 1972, the achievement in providing $1 billion in loans from a single program made evident the continual financial stability of the Authority. As of 2019, WHEDA has provided over $8 billion in mortgage loans to more than 122,000 Wisconsin families, surpassing the $1 billion milestone seven times over. Eager to continue to serve Wisconsin neighborhoods, WHEDA is proud that John and Susan were willing to share their joy on this special day for all.