WHEDA Loans and WHEDA Mortgages in Green Bay, Wisconsin
What’s the deal with WHEDA? Well WHEDA stands for, Wisconsin Housing and Economic Development Authority and their mission statement reads, “WHEDA’s mission is to stimulate the state’s economy and improve the quality of life for Wisconsin residents by providing affordable housing and business financing products.”
WHEDA Home Loan and Mortgage Requirements
And it does just that! WHEDA is a fantastic program for home buyers in Wisconsin. Yes, the home in question MUST be purchased in the state of Wisconsin AND the home must be your primary resident. Sorry, investors, this is not the right type of financing for you. This government backed loan isn’t just for first time home buyers either! A few of the benefits a WHEDA loan are:
- Low downpayment options starting at 3%
- Down payment assistance may be available to cover the 3%
- Typically has lower rates than conventional financing
- Possible no PMI
If these seem like great terms to you, contact Executive Mortgage today! There are some qualifying requirements, as there are with any type of financing. We can schedule a time for a FREE consultation to see if a WHEDA loan is the right kind of loan for you. The mortgage officers at Executive Mortgage are experts in WHEDA loans so make sure to give Executive mortgage a call, we always have competitive rates!
