Wisconsin bankers and realtors say they’re happy to have WHEDA ready to lend again.
The Wisconsin Housing and Economic Development Authority plans to offer loans again on March 1st, after not providing new financing for nearly 18-months. Wisconsin Mortgage Bankers Association President Steve Hansen says it’s good to have that option back on the table for first-time home buyers, since many potential buyers may not be able to consider a purchase without it.
The WHEDA program allows buyers with good credit to access 100-percent financing and a 30 year fixed rate mortgage. Hansen says that’s often a much better option for those who haven’t been able to save up a large down payment.
The loans can be used with the eight-thousand-dollar home buyer’s tax credit, which expires April 30th. John Horning with the Wisconsin Realtors Association says that should generate interest very quickly, since buyers will have a limited window to close on a home. He’s anticipating a busy spring for realtors across the state.
Hansen says members have already been getting calls from potential buyers who are asking about the WHEDA program.
AUDIO: Andrew Beckett reports (1:11)