WHEDA Loans in Wisconsin
Wisconsin's own homebuyer program offers below-market interest rates and down payment assistance exclusively for Wisconsin residents. As an approved WHEDA lender, Rob Miller helps first-time buyers across Madison and the state take full advantage of this powerful state benefit.
What Is a WHEDA Loan?
WHEDA — the Wisconsin Housing and Economic Development Authority — is a state agency that partners with approved private lenders to offer affordable mortgage financing to Wisconsin residents. WHEDA doesn't lend money directly; instead, it provides funding and rate subsidies that approved lenders like MadCity Home Loans pass on to eligible borrowers in the form of below-market interest rates.
WHEDA programs are specifically designed to make homeownership accessible to Wisconsin residents who might otherwise struggle to afford it — particularly first-time buyers, moderate-income households, and residents of targeted areas. When stacked with down payment assistance (DPA), WHEDA loans can dramatically reduce the upfront cost of buying a home.
As an approved WHEDA lender, Rob Miller works with first-time buyers across Madison, Dane County, and all of Wisconsin to structure WHEDA financing that maximizes savings and minimizes barriers to homeownership.
WHEDA Program Benefits
Below-Market Interest Rate
WHEDA's program rate is typically 0.25%–0.75% below current market rates, saving thousands over the life of your loan.
Down Payment Assistance
Easy Close DPA provides up to 6% of the purchase price as a low-interest second mortgage for down payment and closing costs.
Wisconsin-Exclusive Benefit
WHEDA is a Wisconsin state program — it's a benefit designed specifically for Wisconsin residents that out-of-state buyers can't access.
Pairs With FHA, VA & Conventional
WHEDA works as a layer on top of your underlying loan type — eligible veterans can even combine WHEDA with their VA benefit.
Targeted Area Exceptions
Buyers purchasing in WHEDA-designated targeted areas may qualify even if they've owned a home before.
Approved Private Lender
You work directly with Rob Miller — not a government office. Your experience is local, personal, and fast.
WHEDA Loan Requirements in Wisconsin
To qualify for a WHEDA loan with MadCity Home Loans, you'll generally need to meet the following criteria:
- Be a first-time homebuyer (no ownership in last 3 years) — or purchase in a WHEDA targeted area, or be a qualifying veteran
- Household income must be within WHEDA county limits (approximately $120,500 in Dane County for 1-2 person households)
- Purchase price within WHEDA limits (typically $385,000–$470,000 depending on county and property type)
- Minimum credit score of 620 (640+ for WHEDA Advantage Conventional)
- The home must be your primary residence in Wisconsin
- Complete a WHEDA-approved homebuyer education course (available online)
WHEDA Easy Close DPA — Down Payment Help
WHEDA's Easy Close Down Payment Assistance (DPA) is a second mortgage that provides up to 6% of your purchase price to cover your down payment and closing costs. It's structured as a 10-year fixed loan at a very low rate — making it far more affordable than most assistance programs.
Example: On a $300,000 purchase, Easy Close DPA can provide up to $18,000 in assistance. Combined with WHEDA's below-market first mortgage rate, many buyers can get into a home with minimal out-of-pocket cash.
Is WHEDA your best option? Rob Miller will compare WHEDA rates and total costs against FHA, conventional, and USDA options — so you can see exactly which program saves you the most money.
Get a WHEDA Comparison