Home Improvement Loan Program (HILP)

The WHEDA Advantage Home Improvement Loan Program (HILP) offers a financing product to help current Wisconsin homeowners make improvements and repairs. HILP allows eligible homeowners to finance repairs or improvements such as replacing a furnace or adding more square footage to their home, even if they do not currently have a WHEDA loan.

As with most lending programs on the market, HILP will only be accessible to homeowners who are current with mortgage payments, have a good-standing mortgage payment history, and have a strong overall credit profile. Other eligibility criteria will apply at the time an application is submitted.

Features of HILP include:

• Available to current homeowners
• Closing cost credit of up to $500, paid by WHEDA
• Loan amounts between $10,000-$50,000 (up to 125% combined loan to value)
• Closing costs can be financed into the loan, if allowable
• Up to 6 months to complete renovations/improvements

*IMPORTANT* Please note that borrowers will NOT be eligible if one or more of the following applies:

• Credit score less than 620
• Bankruptcy or foreclosure during current loan term
• Property is currently listed "For Sale"
• Payment of real estate taxes more than 60 days delinquent
• Current loan was modified within the last 24 months

View an up to date list of HILP certified lenders 

Refi Advantage

The WHEDA Refi Advantage is an exclusive mortgage refinance product designed specifically to make home ownership more affordable for borrowers who currently have a WHEDA loan. The Refi Advantage will allow eligible homeowners to refinance their mortgage with as little as 3% equity in their home.

As with most refinance programs on the market, the Refi Advantage will only be accessible to homeowners who are current with mortgage payments, have a good standing mortgage payment history, and have a strong overall credit profile. Other eligibility criteria will apply at the time an application is submitted. 

Features of the Refi Advantage include:

• Qualify with as little as 3% equity
• Closing costs can be added into the mortgage
• Access the Easy Close Advantage down payment assistance loan up to a 105% combined loan-to-value
• Get cash back in the amount of the lesser of 2% of the new loan amount or $2,000

*IMPORTANT* Please note that borrowers will NOT be eligible if one or more of the following applies:

• Credit score less than 620
• Bankruptcy or foreclosure during current loan term
• Property is currently listed "For Sale"
• Payment of real estate taxes more than 60 days delinquent
• Current loan was modified within the last 24 months