First Time Home Buyer

 Programs in Wisconsin

Complete First Time Home Buyer Programs Available in Wisconsin.

The state agency created by the legislature in Wisconsin to offer first time home buyer programs is the Wisconsin Housing and Economic Development Authority. Here is a summary of the current first time home buyer programs that are offered:

HOME Loan Program

Offers below market, fixed rate financing to low-to-moderate income first-time homebuyers.

Fixed-Interest Only Loan Program

Offers fixed rate financing with reduced payments during the first 7 years for eligible first-time homebuyers.

HOME Plus Loan Program

Provides financing of up to $10,000 for down payment and closing costs and, a line of credit for future home repairs.

Partnership for Homeownership Program

A partnership between WHEDA and the US Department of Agriculture - Rural Development that provides affordable home financing for Wisconsin's rural residents.

For complete details on these first time home buyer programs available to Wisconsin residents, visit the Wisconsin Housing and Economic Development Authority website.

It is highly recommend that you also visit the First Time Home Buyer Grants page for free assistance with the down payment. This will make it possible for many people to qualify for a first time home buyer loan who wouldn't have qualified without the grant assistance.

Best Lender For First Time Home Buyer Loans

Unfortunately, some lenders do not like to work with first time home buyers (due to not having a track record), and prefer instead to only provide mortgages to people who have previously owned a home. If you do not need help with the down payment and are not in need of any state program, but simply want to apply for a mortgage, we recommend  ING DIRECT Orange Mortgage They have great rates, an easy online application, and welcome first time home buyers. Additionally they have not been as severely hurt by the subprime mortgage crisis and are still approving the majority of applications.