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Onward and Upward: From Renting to Owning

Making the decision to rent versus own is personal, and one that varies based on life circumstances. In Brett and Nicole’s case, they knew renting was no longer an option. But being fresh out of college and having little savings, the couple didn’t know if their dream of homeownership was possible. WHEDA works to overcome many barriers to open the doors for younger individuals, like Brett and Nicole, to own a home.

Brett and Nicole began looking for a home in the fall of 2017. They had a clear idea of what they were looking for — move-in ready, within their budget, and most importantly, accommodating to their beloved Goldendoodles Jace and Bella. After having little luck with the home search, Nicole’s mom, who had over 25 years of experience in the mortgage industry, recommended looking into a WHEDA mortgage.

We didn't want to continue to rent. We weren't gaining any equity.

Brett and Nicole had never heard of WHEDA or the resources it offers, but that quickly changed in January 2018 when they began working with WHEDA through their Loan Officer at Old National Bank. Introduced in 2015, WHEDA’s flagship mortgage product, the First Time Home Buyer Advantage, offers a low, 30-year fixed interest rate. The couple also used the WHEDA Easy Close Advantage to help them access the funds needed for closing costs. By June, the couple had closed on their loan and were moving into their newly constructed 1,400 square foot home in Marshall.

Brett and Nicole agree that the process of working with WHEDA was simple from start to finish, and the home was everything they could have hoped for and more with three bedrooms, three bathrooms, no pet restrictions, and a big, fenced-in backyard for Jace and Bella.

Homeownership is vital to the stability and prosperity of Wisconsin communities. Getting borrowers, like Brett and Nicole, into their first home is the core goal of WHEDA’s mortgage program as well as a big part of its mission to provide quality, safe housing to Wisconsin residents. Through low-cost mortgages and other programs, WHEDA has helped nearly 140,000 families become homeowners.


June is National Homeownership Month!

Read The White House’s proclamation on National Homeownership Month here.

Read Wisconsin Governor Tony Evers’ press release on National Homeownership Month here.