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WHEDA Advantage Home Improvement Loan Program (HILP)


Renovating restores a house, the story of a home, and its neighborhood.

Whether you’re looking to increase the property value of your home or maybe you haven’t had the time or money to make the changes you want over the years, chances are there’s a renovation or remodeling project in your future. More than 60 percent of the existing housing in Wisconsin was built before 1980. That’s more than 40 years of updating that may need to be done unless you’ve had the foresight and the means to make repairs or replacements. Many of these aging properties are in need of new space, roofs, furnaces, windows, and other updates to give them new life and a new beautiful story.

Want to make your home your dream home? HILP is here.

The Wisconsin Housing and Economic Development Authority (WHEDA) is now offering a 15-year fixed-rate Home Improvement Loan Program (HILP) for homeowners like you to update your aging home and make it your dream home. So whether you’re revamping a space to make it more functional or simply more beautiful, loans are available from $10K to $50K up to 125% loan to value for eligible borrowers and property types. You have six months to complete the renovation and will receive a closing cost credit of $500 when your loan is approved.

“The limited supply of affordable, move-in ready properties doesn’t match the need so we want to encourage the revitalization of existing homes. This program helps people living in rural and urban areas where the housing inventory is older. Through this new program we can help existing homeowners with resources to improve and boost the value of their homes,” said WHEDA CEO and Executive Director Elmer Moore, Jr.

Qualifying properties must be owner-occupied, and owners must comply with household income limits. Current non-WHEDA first mortgage holders are eligible to apply.

“This program is yet another WHEDA tool our lending partners can use to help homeowners enjoy their homes and stay in them until interest rates stabilize and the purchasing market ramps up again,” said Rob Stafslien, WHEDA's Director of Single Family Housing.



WHEDA helps homeowners.

For 50 years, WHEDA has worked to provide low-cost financing for housing and small business development in Wisconsin. Since 1972, WHEDA has helped more than 138,300 families purchase a home. You can find more information on WHEDA single-family loan products here.