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WHEDA First Mortgage and Down Payment Assistance Programs
The following is general program information and does not guarantee approval or cover all program guidelines. Consult with a Certified WHEDA approved lender for specific eligibility guidelines.
Below you will find a table showing the basic information on both our first mortgage programs. This is meant to give you a cursory idea about WHEDA’s incredible programs. The approved WHEDA Lender you choose will provide you with more detailed information during your loan process.
Eligible borrowers can receive a reduced interest rate when buying a home in certain rural counties in Wisconsin. These counties are: Ashland, Barron, Bayfield, Burnett, Clark, Crawford, Iron, Jackson, Juneau, Marinette, Marquette, Oconto, Rusk, Sawyer and Trempealeau. Download our Rural Target Area Flyer to learn more.
In addition, look at WHEDA's True Costs of Homeownership to give you a more thorough understanding of what costs may be involved in homeownership.
| WHEDA Advantage Conventional | WHEDA Advantage FHA |
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| Minimum credit score 620 or higher | Minimum credit score 640 or higher |
| Purchase or WHEDA to WHEDA Refinance | Purchase |
| 30-year Fixed | 30-year Fixed |
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| No requirement for Borrower funds on any property type except 2-4 unit which requires Borrower funds of 3% of purchase price and 6 months reserves | 3.5% minimum Borrower investment required on all property types, but the use of either WHEDA DPA satisfies this requirement |
| Must be under Total Household Compliance Income limit | Must be under Total Household Compliance Income limit |
| Can use both WHEDA Down Payment Assistant programs | Can use both WHEDA Down Payment Assistant programs |
Pre-purchase Home Buyer Education (HBE) is required for First Time Home Buyers
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Pre-purchase Home Buyer Education (HBE) is required for First Time Home Buyers
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Borrowers who utilize WHEDA's Advantage Conventional First Time Home Buyer, Valor, Or Target Area purchase reduced pricing may be subject to Federal Recapture Catch. To learn more about WHEDA's guaranty read Understanding Recapture Tax.
WHEDA Rehabilitation Mortgage Programs
Below you will find two tables showing the basic information on our rehabilitation mortgage programs. This is meant to give you a cursory idea about WHEDA’s programs to assist you with renovating your current home or making a new home “move-in ready”. The approved WHEDA Lender you choose will provide you with more detailed information during your loan process.
WHEDA Advantage Home Improvement Loan Program (HILP)
| WHEDA Advantage Home Improvement Loan Program (HILP) |
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Do you need a new furnace or looking to add more square footage to your home? The Wisconsin Housing and Economic Development Authority (WHEDA) offers a financing product to help Wisconsin homeowners to make improvements and needed repairs. |
| Home Improvement loan for current homeowners |
| Closing Cost Credit up to $500, paid by WHEDA |
| 15 year fixed rate mortgage |
| Loan amounts between $10,000-$50,000 (up to 125% combined loan to value) |
| Property must be owner occupied primary residence |
| Allowable property types include- Single Family Residence, Condominiums, 2 unit and Double Wide Manufactured |
| Total Household Income Limits apply |
| Closing costs can be financed into the loan, if allowable |
| Up to 6 months to complete renovations/improvements |
| If there is a first mortgage, it does not have to be a WHEDA loan |
WHEDA Advantage Conventional HomeStyle® Renovation
| WHEDA Advantage Conventional HomeStyle® Renovation |
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An extension of the WHEDA Advantage Conventional First Mortgage Program.
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| Borrowers can buy and renovate a home with one mortgage. |
| All ELIGIBLE costs associated with your purchase and renovation – including six months of mortgage payments if you are unable to occupy your home during renovation – may can be financed. |
| Six months after closing to complete the renovation work. |
| Up to 100% financing for eligible borrowers and property types when used in conjunction with a WHEDA down payment assistance loan. |
WHEDA Down Payment Assistance Programs
Below you will find a table showing the basic information on both of our DPA programs. This is meant to give you a cursory idea about WHEDA’s DPA options. The approved WHEDA Lender you choose will provide you with more detailed information during your loan process.
Both WHEDA Down Payment Assistance programs can be used with either WHEDA first mortgage program. In many instances, utilizing a WHEDA first mortgage and a WHEDA DPA will provide you with 100% financing.
We are excited to announce that the Capital Access DPA will be available again on a limited basis, starting January 15, 2026.
- Due to limited funding, reservations will be accepted on a first-come, first-served basis.
- Funding is available for 78 Capital Access DPA loans.
- Once available funds have been fully committed, the program will close until additional funding becomes available.
- A property address is required for reservation of funds. Reservation is not available for pre-approvals.
- Daily rate sheets will show a running tally of the reservations remaining.
- WHEDA will inform our lending partners via Lender Update when funds are nearing depletion.
- Updated Income and Purchase Price limits will be available on the Toolkit with an effective date of January 15, 2026.
| WHEDA Easy Close Advantage DPA | WHEDA Capital Access DPA |
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Conventional:
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Conventional:
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FHA:
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FHA:
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Total Household Compliance Income limits apply based on WHEDA first mortgage |
Has separate Total Household Compliance Income Limits which are generally lower |
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*Actual APR may vary