Programs For 1st Time Buyers
First time home buyers in Wisconsin have many options available to them for help in purchasing their first residence. The Wisconsin Housing and Economic Development Authority (WHEDA) provides some very rewarding programs for Wisconsin residents seeking to purchase their first home.
Here are some highlights:
First Time Home Buyer (FTHB) Advantage
The FTHB Advantage offers a preferred fixed, interest rate for qualified first-time home buyers.
FEATURES AND BENEFITS
First-time home buyers, veterans or people purchasing in a federally designated target area are eligible for this fixed-rate mortgage priced below the standard conventional interest rate.
GENERAL ELIGIBILITY GUIDELINES
- Borrowers must qualify for a conventional WHEDA Advantage loan
- Borrowers who have not owned a principal place of residence in the last three years*
* This requirement is waived if a home buyer is purchasing a home in a federally designated target area.
- Review the income and purchase price limits
- Sign up to attend home buyer education classes
- Find a participating WHEDA lender in your area
For complete details on these programs, including contact information and instructions on how to apply, please visit the WHEDA page that describes each program.
More Wisconsin First Time Buyer Programs
In addition to the above homebuyer programs offered by WHEDA, there are local housing agencies in various towns, cities and counties throughout the state that provide financial assistance to 1st time property buyers as well. To determine if there any additional programs available near you, please visit local first time home buyer programs in Wisconsin.