Wisconsin First-Time Home Buyer Programs of 2021

By NerdWallet 
Updated
Edited by Amanda Derengowski
wisconsin-first-time-home-buyer-programs

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Buying a first home can be intimidating, but the Wisconsin Housing and Economic Development Authority, or WHEDA, offers programs to make it easier for first-time home buyers.

Qualified veterans and people buying in lower-income federally designated target areas can qualify for WHEDA programs, too.

National first-time home buyer programs

For residents in all 50 states, these national loan programs allow low and sometimes even no down payments.

Conventional mortgage

Best for:

Low down payments, limited mortgage insurance premiums

What you need to know:

A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac allow down payments as low as 3% for first-time buyers or lower-income home buyers. Unlike FHA loans, conventional loans allow borrowers to eventually cancel their mortgage insurance or avoid mortgage insurance altogether if they put at least 20% down.

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4.5

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Min. credit score 
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Mortgage loans from our partners

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

4.5

NerdWallet rating 
NBKC - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on NBKC

Prosperity Home Mortgage - PURCHASE logo
Check Rate

on Prosperity Home Mortgage

Prosperity Home Mortgage

4.0

NerdWallet rating 
Prosperity Home Mortgage - PURCHASE logo

4.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 

0%

Check Rate

on Prosperity Home Mortgage