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How Can WHEDA® Help Me Purchase a Home?

• What does Home offer me?


• What kind of Home can I buy?


• What is Homebuyer education and do I need it?


• Where do I get a Home Loan?


• How long does it take to get financing?


• Interested in a Home Loan?

What does Home offer me?

Home lets you become a Homeowner sooner and with a lower monthly house payment than other mortgage programs.

That's because Home features low down payments and below-market interest rates. And with Home, your rate is fixed for the term of your loan from 15 to 30 years.

As a value-added benefit, you will be automatically enrolled in WHEDA's Job Loss Protection plan. This is a mortgage payment protection plan that will pay your monthly mortgage payment if you become involuntarily unemployed.

What kind of Home can I buy?

From a bungalow to a four-unit. Just about any type of finished, decent house qualifies including:

• An existing or new single family Home


• An existing or new condominium with at least two bedrooms


• A two-unit (duplex), three- or four-unit that is at least five years old


• A new duplex (in target areas only)

Your new Home's price must fall within WHEDA's guidelines for the county where it's located. Of course, you must live in the Home you buy.

What is Homebuyer education and do I need it?

Homebuyer education is a sound first step toward becoming a successful Homeowner. It can also help you qualify for a lower down payment.

A workshop will introduce you to the Home buying process and help you feel more comfortable as you get started.

Many lenders, real estate groups, and community organizations offer these workshops. Check with your lender to find one near you.

Where do I get a Home Loan?

Contact your local lender. Chances are good it is one of the 1,200 financial institutions that offers Home Loans. Check our lender list for a lender in your area. Your local lender will assemble the necessary documents needed for a Home loan. This includes completing a loan application with you and answering any questions you have.

Your lender will forward that documentation to WHEDA, where a loan decision will be made.

How long does it take to get financing?

The lender will obtain and assemble the necessary documentation, which normally takes 2-4 weeks. Keep in touch with your lender and respond to any requests for information in a timely manner. Once assembled, the necessary documentation will be sent to WHEDA where a loan decision will be determined within 24 hours.

Interested in a Home Loan?

Contact your lender or contact WHEDA