WHEDA Fannie Mae Advantage? WHEDA is back in Wisconsin!
Starting March 1, 2010 WHEDA loans are back in Wisconsin! The WHEDA Fannie Mae Advantage allows buyers to bring less cash to the closing table and will allow them to have lower monthly payments than most conventional loan options.
With as little $1000 minimum contribution the borrower may finance up to 100% of the purchase price with a low 30 year fixed rate. Buyers also still may qualify for the $8000 Federal First-Time Home Buyers Tax Credit if they enter into a contract by April 30, 2010 and close by June 30, 2010.
Buyers must be first time home buyers, must complete the pre-purchase home buyer education course, must owner occupy the property but single family homes and duplexes are allowed. Purchase price and income limits apply.
What does this mean? It means that affordable loan products with low or no down payment options are back. Buyers with good credit can once again get into that home of their dreams with less cash up front.
Get all of the latest information here.
Posted by:
Mickey Koch
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