How do I pay my Wheda loan?
Pay by Phone
Submit your completed form via email to [email protected] or fax it to 608-467-5025. Your life is hectic. Paying your mortgage doesn't have to be with My Loan Online from WHEDA. Now you can access your loan information 24/7 and pay your WHEDA mortgage online with a few simple clicks of the mouse.
What is the Wheda program?
OUR MISSION
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.
Who qualifies for a Wheda loan?
You must have a minimum of a two-year work history and sufficient income, a credit score of 620 or greater, complete home buyer education, and the property must be owner-occupied. The borrower can purchase an existing family home or HUD-approved HRAP warrantable condominium. Refinancing is not available.
Can I sell my house if I have a Wheda loan?
a. No. WHEDA requires the property be the Borrower's owner-occupied primary residence for the life of the loan. If you move out, you need to either refinance the mortgage or sell the property.
What type of loan is a Wheda loan?
WHEDA Advantage Conventional HomeStyle® Renovation
Borrowers can buy and renovate a home with one mortgage. All ELIGIBLE costs associated with your purchase and renovation – including six months of mortgage payments if you are unable to occupy your home during renovation – may can be financed.
Is Wheda a FHA loan?
In addition to the expanded down payment assistance, a change in required lender qualifications from the U.S. Department of Housing and Urban Development means WHEDA Advantage FHA loans will now be available through dozens of additional lenders statewide.
Does Wisconsin offer down payment assistance?
Wisconsin down payment assistance
In conjunction with its Advantage Conventional and FHA loans, WHEDA offers the Easy Close down payment assistance (DPA) program, which provides a minimum of $1,000 and a maximum of 6 percent of the home's purchase price in assistance.
What is the average down payment on a house in Wisconsin?
Homeownership costs: In Wisconsin, homeowners typically spend $2,699 in maintenance costs annually, but this can vary widely based on the house.
...
Down payment.
Mortgage Type |
Down Payment |
Down Payment |
FHA Loan |
3.5% |
$7,077 |
Conventional Loan |
20% |
$40,439 |
Based on home value data from Zillow (October 31, 2020) |
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May 26, 2021