Wisconsin First Time Home Buyer

If you’re a first-time home buyer, the Wisconsin Housing and Economic Development Authority (WHEDA) offers specialized loan programs to make homeownership more attainable. These programs provide favorable mortgage options, down payment assistance, and educational resources tailored to your needs.

We proudly serve the following cities and offer WHEDA loans anywhere in Wisconsin:

Appleton, Brookfield, Eau Claire, Fond du Lac, Green Bay, Greenfield, Janesville, Kenosha, La Crosse, Madison, Menomonee Falls, Milwaukee, New Berlin, Oshkosh, Racine, Sheboygan, Waukesha, Wauwatosa, West Allis.

Wisconsin Low Income Buyer Opportunities

Wisconsin’s housing market offers notable advantages for first-time buyers, combining affordability with a community-focused lifestyle and steady economic growth.

Around 30-50% of households in key markets are renter-occupied, indicating a sizable population that could benefit from the stability of homeownership.

With a balanced housing market and competitive prices statewide, WHEDA programs help more Wisconsin residents transition from renting to owning their first home.

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   Marina Younger 
 
 
 
 Trustindex verifies that the original source of the review is Google. We had unexpectedly found our dream home and needed to get pre approved on what seemed like an impossibly short timeline to make an offer, but Dan came through for us and with a rate that beat all others. If you want a business that you can call that picks up the phone and it's exactly who you need to talk to, you've found the right place.
  
 
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   Brett Peterson 
 
 
 
 Trustindex verifies that the original source of the review is Google. Dan, Heidi, and the Educated Mortgage team made the refinancing process a breeze and easy to understand. They answered every question we had. We definitely plan on working with them again.
  
 
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   Holly Lowry 
 
 
 
 Trustindex verifies that the original source of the review is Google. Dan and his team helped me with a refi and it took forever (on my part not theirs :D) but his team and him answered all my questions and gave me what I needed to work on things and we got it done! Will definitely be going back to them when I need another refi.
  
 
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   Chris B. 
 
 
 
 Trustindex verifies that the original source of the review is Google. Such a great experience!  Dan & Heidi are relentless - so professional, such good communication and follow up, made everything super easy.  The tools they use are also great.  I shopped brokers and had a few I was dealing with and asking questions to, but in the end I'm so glad we chose Educated Mortgage for our recent condo purchase.
  
 
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   Mike Layman 
 
 
 
 Trustindex verifies that the original source of the review is Google. I absolutely love these guys! Best service, best prices and easy to work with
  
 
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   Jessica Gilbertson 
 
 
 
 Trustindex verifies that the original source of the review is Google. I can not say enough good things about Educated Mortgage. We had the pleasure of working with Dan and Heidi. From the beginning conversations with Dan to the loan application to the processes with Heidi all the way up through the closing, the experience was beyond exceptional. Communication with us very efficient and they worked very hard for us. Our situation was extraordinary and definitely presented challenges but they never gave up on us. We actually spoke with Dan several months prior to this and he gave us advise on things we needed to work on, which we did and when we called him back he was ready to go to work for us. Even after the closing, he will watch our loan and mortgage rates and let us know if and when the time could be right to refi. They are there for you from the beginning and we will still be there months or years down the road to help. Even if it is just to ask some questions. Educated Mortgage is just amazing.
  
 
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   Carrie Neu 
 
 
 
 Trustindex verifies that the original source of the review is Google. Friendly people.
  
 
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   Dan Davis 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great people to work with, made the process of the mortgage very easy to understand. Definitely would recommend
  
 
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   Peggy Sheets 
 
 
 
 Trustindex verifies that the original source of the review is Google. It was out second time with Educated Mortgage and it went  as smooth as first time.Dan and Heidi were great explaining things and keeping us informed.We  refinanced out home,took care of some credit card and student loan debt  and enough for a tree removal.and our mortgage is still affordable.we recommend  them highly.Al and Peggy Sheets

Take the First Step Toward Homeownership

Stop letting another year of rent payments slip away while you wonder if homeownership will ever be possible. WHEDA programs exist specifically to help people in your situation, and expert guidance makes all the difference in successfully accessing these benefits.

Contact us today for your complimentary consultation with a WHEDA-experienced mortgage professional who can answer your questions and show you the real numbers based on your income and the home you want to purchase.

Contact a Loan Expert

608-834-5000

Steps to Get Started with a First Time Home Buyer Program

Embarking on the journey to homeownership in Wisconsin is a significant milestone. With WHEDA’s tailored programs and support, you can navigate this process with confidence and ease.

Get Pre-Approved

Contact us, a WHEDA-approved lender, to assess your financial eligibility and receive a pre-approval letter. This ensures you’re ready to make an offer on the right home without falling in love with something you can’t afford.

Find Your Qualifying Home

Work with a real estate professional to search for and select a property that meets WHEDA guidelines.

Complete Home Buyer Education

Finish the required pre-purchase course, which equips you with the knowledge to make informed decisions throughout the process.

Count on Yourself to

Get a pre-approval letter before looking so you’re ready to make an offer when you find the right home and won’t fall in love with a house you can’t afford.
Keep your real estate agent and Educated Mortgage informed of any questions or concerns as they arise, honesty prevents hold-ups.
Provide any additional required documentation in a timely manner. Many details are handled early so you can focus on last-minute items that require your attention.
Enjoy purchasing your home, but remain objective throughout to make the business decisions that are best for you.

WHEDA Loan Options

WHEDA provides two primary mortgage options:

WHEDA Advantage Conventional Loan:

A 30-year fixed-rate mortgage available for single-family homes, condominiums, and 2-4 unit properties.

Minimum credit score: 620.

WHEDA Advantage FHA Loan:

A 30-year fixed-rate mortgage backed by the FHA, suitable for single-family homes, 2-unit properties, and HUD-approved condominiums.

Minimum credit score: 640.

Explore WHEDA Loans

Contact a Loan Expert

Questions about Down Payment Assistance?

Call us at 608-834-5000 for more information.

Are WHEDA Home Loans Right for Your Situation?

First-time home buyers in Wisconsin often don’t realize that they can qualify for programs because of the assumptions that the requirements are too strict or the process is too complicated. The truth is that WHEDA helps thousands of Wisconsin families each year, and you might be surprised at how accessible these benefits really are.

Our Free Mortgage Consultation will show you exactly what WHEDA programs you qualify for and how much you could save compared to conventional financing options.

Real Savings that Change Lives

Imagine keeping an extra $15,000 in your savings account instead of draining it for a down payment. Picture monthly payments that are $150-$200 lower than conventional loans, giving your budget breathing room for the things that matter. These aren’t theoretical benefits, they’re real advantages that WHEDA borrowers experience every single day.

The team at Educated Mortgage knows every detail of WHEDA’s current programs, income limits, and qualifying criteria for your specific county. We’ll help you understand exactly what assistance you’re eligible for and guide you through each step of the application process.

Down Payment Assistance (Easy Close)

We offer WHEDA’s Easy Close down payment assistance. Easy Close provides loans from $1,000 up to 6% of the home’s purchase price. It’s a 10-year fixed-rate second mortgage with an interest rate that matches your first mortgage rate.

Contact a Loan Expert

608-834-5000

CALL US FOR MORE INFORMATION 608-834-5000

Eligibility Criteria

Income Limits: Household income must fall within limits varying by size and county. Each country determines the income limit for non-target areas based on the size of the household. Find information for your country by talking with our experts.

Purchase Price Limits: The maximum purchase price for a single-family home in a non-target area is $544,232.

Home Buyer Education: Completion of a pre-purchase education course is required. For 2-4 unit properties, landlord education is also mandatory.

Owner Occupancy: The property must be your primary residence throughout the WHEDA loan term.

Ca$h Advantage Program for First-Time Buyers

The Ca$h Advantage Program is perfect for first-time home buyers who lack large down payments but want to compete like cash buyers in today’s fast-paced Wisconsin market. It empowers renters and new entrants to skip sale contingencies, since you don’t own a home yet, and secure properties without traditional financing hurdles up front.

Benefits of the Ca$h Advantage Program

No hidden costs or fees apply, keeping it accessible for first-timers transitioning from renting
Come with a competitive advantage you need to get the home you want
No financing, appraisal, or sale contingencies; funds are fully guaranteed

Helping First-Time Home Buyers & Homeowners Across Wisconsin

WHEDA loans provide affordable pathways to homeownership with down payment assistance and competitive rates, making it easier for first-time buyers to transition from renting to owning. Additionally, we offer Conventional, FHA, VA, USDA, and Home Equity Loan options for those looking to refinance or purchase a new home.

At Educated Mortgage, we provide expert mortgage solutions for first-time home buyers and all home purchasers across Wisconsin. Whether you’re looking for a low down payment option through WHEDA’s first-time home buyer programs or a conventional loan, we offer tailored financing solutions to meet your needs.

Renters: 36%
Median home price in Appleton is $289,000
Approximately 20% of residents are between the ages of 25 and 34, representing a prime demographic for first-time home buyers.
Down payment assistance: In Outagamie County, the income limit in a non-target area is $111,500 for a 1-2 person household and $128,225 for a 3+ person household.

Renters: 18%
Median home price in Brookfield is $475,000
Brookfield’s median age is 46.2 years, with a growing share of younger households moving in to take advantage of the schools, amenities, and proximity to Milwaukee.
In Waukesha County, the income limit in a non-target area is $110,700 for a 1-2 person household and $127,305 for a 3+ person household.

Renters: 36%
Median home price in Eau Claire is $309,798
With a median age of 32.8 years, Eau Claire’s population is notably young. Approximately 17.7% of residents are under the age of 18, representing a prime demographic for future first-time home buyers.
Down payment assistance: In Eau Claire County, the income limit in a non-target area is $104,800 for a 1-2 person household and $120,520 for a 3+ person household.

Renters: 36%
Median home price in Fond du Lac is $242,000
The median age in Fond du Lac is 38.3 years, with around 22% of the population in the 25 to 39 age range, a key demographic for first-time home purchases.
Down payment assistance: In Fond du Lac County, the income limit in a non-target area is $104,800 for a 1-2 person household and $120,520 for a 3+ person household.

Renters: 44%
Median home price in Green Bay is $247,450
With a median age of 36.2 years, Green Bay’s population is relatively young. Approximately 25% of residents are between the ages of 20 and 34, representing a prime demographic for first-time home buyers.
Down payment assistance: In Brown County, the income limit in a non-target area is $111,500 for a 1-2 person household and $128,225 for a 3+ person household.

Renters: 33%
Median home price in Greenfield is $327,000
Roughly 33% of households in Greenfield are renter-occupied, presenting strong opportunities for first-time buyer education and WHEDA-backed financing options.
Down payment assistance: In Milwaukee County, the income limit in a non-target area is $110,700 for a 1-2 person household and $127,305 for a 3+ person household.

Renters: 37%
Median home price in Janesville is $271,000
The median age in Janesville is 39, with about 23% of the population between ages 25 and 39, a prime homebuying demographic.
Down payment assistance: In Rock County, the income limit in a non-target area is $104,800 for a 1-2 person household and $120,520 for a 3+ person household.

Renters: 42%
Median home price in Kenosha is $245,000
With a median age of 34.8 years, Kenosha’s population is relatively young. Approximately 25% of residents are between the ages of 20 and 34, representing a prime demographic for first-time home buyers.
Down payment assistance: In Kenosha County, the income limit in a non-target area is $106,800 for a 1-2 person household and $122,820 for a 3+ person household.

Renters: 53%
Median home price in La Crosse is $241,500
With a median age of about 29, La Crosse is one of Wisconsin’s younger cities, and more than 33% of residents are between 20 and 34, a prime homebuying demographic.
Down payment assistance: In La Crosse County, the income limit in a non-target area is $107,400 for a 1-2 person household and $123,510 for a 3+ person household.

Renters: 43%
Median home price in Madison is $439,900
With a median age of 30.9 years, Madison’s population is notably young. Approximately 39% of residents are between the ages of 20 and 34, representing a prime demographic for first-time home buyers.
Down payment assistance: In Dane County, the income limit in a non-target area is $129,800 for a 1-2 person household and $149,270 for a 3+ person household.

Renters: 21%
Median home price in Menomonee Falls is $375,000
Family-oriented demographics suit suburban starter homes.
Down payment assistance: In Waukesha County, the income limit in a non-target area is $111,500 for a 1-2 person household and $128,225 for a 3+ person household.

Renters: 40.12%
From March 2023 to March 2024, Milwaukee experienced a 6.39% increase in median rent, ranking it among the top ten metro areas in the nation for rent growth.
With a median age of 32.2 years, Milwaukee’s population is notably young. Approximately 24.73% of residents are between the ages of 15 and 29, representing a prime demographic for first-time home buyers.
Down payment assistance: In Milwaukee County, the income limit in a non-target area is $110,700 for a 1-2 person household and $127,305 for a 3+ person household.

Renters: 21%
Median home price in New Berlin is $432,000
New Berlin has a median age of approximately 45.6 years, with many young families moving in to take advantage of award-winning schools and low crime rates. Proximity to Milwaukee and Waukesha adds to its appeal as a commuter-friendly city with long-term value.
Down payment assistance: In Waukesha County, the income limit in a non-target area is $110,700 for a 1-2 person household and $127,305 for a 3+ person household.

Renters: 45.6%
Median home price in Oshkosh is $250,000
The city’s median age is in the mid-30s, with a strong share of residents between the ages of 20 and 34. This is a key demographic for first-time home buying and for programs that provide education on low down payment financing options.
Down payment assistance: In Winnebago County, the income limit in a non-target area is $104,800 for a 1-2 person household and $120,520 for a 3+ person household.

Renters: 41%
Median home price in Racine is $195,000
With a median age of 35.6 years, Racine’s population is relatively young. Approximately 27.2% of residents are under the age of 18, representing a prime demographic for first-time home buyers.
Down payment assistance: In Racine County, the income limit in a non-target area is $104,800 for a 1-2 person household and $120,520 for a 3+ person household.

Renters: 39%
Median home price in Sheboygan is $229,000
With a median age of 39.4 years, Sheboygan has a balanced mix of young professionals and families, including a healthy segment of residents in the prime homebuying age range of 25 to 39.
Down payment assistance: In Sheboygan County, the income limit in a non-target area is $104,800 for a 1-2 person household and $120,520 for a 3+ person household.

Renters: 29.12%
Median home price in Waukesha is $378,222
With a median age of 39.0 years, Waukesha’s population is relatively young. Approximately 20% of residents are between the ages of 25 and 34, representing a prime demographic for first-time home buyers.
Down payment assistance: In Waukesha County, the income limit in a non-target area is $110,700 for a 1-2 person household and $127,305 for a 3+ person household.

Renters: 37%
Median home price in Wauwatosa is $360,000,
With a median age of 38.4 years, Wauwatosa attracts a diverse mix of young professionals, families, and long-term residents. About 24% of the population is between 25 and 39 years old, a prime demographic for first-time purchases.
Down payment assistance: In Milwaukee County, the income limit in a non-target area is $110,700 for a 1-2 person household and $127,305 for a 3+ person household.

Renters: 45.2%
Median home price in West Allis is $268,782
The median age is about 39, with a strong concentration of residents in their late 20s to late 30s, a prime cohort for first-time home purchases.
Down payment assistance: In Milwaukee County, the income limit in a non-target area is $110,700 for a 1-2 person household and $127,305 for a 3+ person household.

Your Dream Home Awaits

First-time homeownership doesn’t have to feel impossible when you have the right program and the right guidance. Our experts at Educated Mortgage specialize in helping Wisconsin first-time buyers navigate WHEDA programs and unlock benefits that make homeownership affordable and achievable.