Eligible Mortgage Insurers
The WHEDA Advantage has a lower interest rate and lower monthly payments than most conventional loan products. Special underwriting guidelines and mortgage insurance premiums are available through WHEDA-approved mortgage insurance (MI) providers.
When submitting applications to the MI company, be sure to properly identify the application as a WHEDA loan. This will ensure the MI company uses the correct underwriting guidelines and applies the correct pricing. Coverage requirements are:
|HFA Preferred Only: Loan amounts exceeding 80% LTV; MI Company overlays apply|
|Total annual qualifying income is ≤ 80% AMI* = Charter Level Coverage||Total annual qualifying income is > 80% AMI* = Standard Coverage|
The following mortgage insurance partners are eligible for the WHEDA Advantage. By clicking on the partner links below you will be able to access premium rates and how to submit a loan application package for approval. If you have questions, please contact your local mortgage insurance account manager for more details.