BEST OF
6 Best WHEDA Lenders of 2021
WHEDA (Wisconsin Housing and Economic Development Authority) offers mortgages for first-time home buyers, repeat buyers and veterans, along with down payment and closing cost assistance. Here are some WHEDA lenders that can help you apply.
Buying a house is a big deal, especially the first time. WHEDA — the Wisconsin Housing and Economic Development Authority — offers a variety of loan programs to make the purchase more affordable for first-time buyers, as well as for repeat buyers and veterans.
To apply, you need to work with a WHEDA-approved lender. A loan officer can determine if you meet eligibility criteria and lead you through the mortgage process.
NerdWallet has reviewed several WHEDA lenders and put together a list of top picks. We’ve also listed some local WHEDA lenders that do a lot of business in Wisconsin but haven't been reviewed by NerdWallet.
Buying a house is a big deal, especially the first time. WHEDA — the Wisconsin Housing and Economic Development Authority — offers a variety of loan programs to make the purchase more affordable for first-time buyers, as well as for repeat buyers and veterans.
To apply, you need to work with a WHEDA-approved lender. A loan officer can determine if you meet eligibility criteria and lead you through the mortgage process.
NerdWallet has reviewed several WHEDA lenders and put together a list of top picks. We’ve also listed some local WHEDA lenders that do a lot of business in Wisconsin but haven't been reviewed by NerdWallet.
Summary of Best WHEDA Lenders of 2021
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for first-time home buyers | 620 | 3% | Read review | |
Best for first-time home buyers | 620 | 3% | Read review | |
Best for online convenience | 620 | 3% | at Fairway Independent Mortgage | |
Best for nontraditional or alternative credit | 620 | 3% | Read review | |
Best for nontraditional or alternative credit | 620 | 3% | at New American Funding | |
Best for face-to-face service | 620 | 3% | Read review |
Guild Mortgage: NMLS#3274
Min. Credit Score
Min. Down Payment
PrimeLending: NMLS#13649
Min. Credit Score
Min. Down Payment
at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289
Min. Credit Score
Min. Down Payment
at Fairway Independent Mortgage
Flagstar: NMLS#417490
Min. Credit Score
Min. Down Payment
at New American Funding
New American Funding: NMLS#6606
Min. Credit Score
Min. Down Payment
at New American Funding
US Bank: NMLS#402761
Min. Credit Score
Min. Down Payment
More WHEDA lenders
These WHEDA lenders do a lot of business in Wisconsin. They haven't been reviewed by NerdWallet but are worth considering.
Offers personalized mortgage rates online.
Has loan officers in Appleton, central Wisconsin, Green Bay, Janesville, Kenosha, Madison, Milwaukee, northwest Wisconsin, Racine and Waukesha.
Offers a library of home financing articles online.
Offers personalized mortgage rates online.
Website lets borrowers start application and track progress online.
Rate Tracker tool lets users get rate updates by email.
Anyone can join the credit union.
Offers closing cost discounts when borrowers set up automatic mortgage payments via a BMO Harris account.
Publishes sample mortgage rates for a variety of mortgages.
Has online mortgage application.
Has numerous branches in Wisconsin.
Offers personalized mortgage rates online.
Membership is open to a wide variety of Wisconsin residents.
Offers up to $1,000 discount on closing costs to first-time home buyers.
Offers to match closing costs or give the borrower $500 if lower closing costs are found elsewhere.
More from NerdWallet
Last updated on January 21, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best WHEDA Lenders of 2021
- Guild Mortgage: Best for first-time home buyers
- PrimeLending: Best for first-time home buyers
- Fairway Independent Mortgage: Best for online convenience
- Flagstar: Best for nontraditional or alternative credit
- New American Funding: Best for nontraditional or alternative credit
- US Bank: Best for face-to-face service
