Purchasing your first home is an exciting milestone—but it can also feel overwhelming without the right information and support. Fortunately, Wisconsin offers a variety of resources and programs designed specifically to help first-time home buyers successfully navigate the process. From down payment assistance to educational programs, here’s a breakdown of the top resources available to you.

1. WHEDA (Wisconsin Housing and Economic Development Authority)

WHEDA is a leading resource for first-time home buyers in Wisconsin. Their programs are designed to make homeownership more accessible and affordable.

Key offerings:

• Low-Interest Mortgage Loans: Special rates for first-time buyers, often below market.
• Down Payment Assistance (Easy Close DPA): A second mortgage to help cover down payments and closing costs.
• Home Buyer Education: Required for most WHEDA programs, this online course helps buyers understand the ins and outs of the home buying process.

Visit wheda.com to explore current offerings and see if you qualify.

2. Local Down Payment Assistance Programs

Many Wisconsin cities and counties offer localized grants and forgivable loans to help with down payments and closing costs. These programs often require:

• First-time buyer status
• Completion of a home buyer education course
• Income eligibility based on area median income

Examples include:

• Milwaukee’s Home-buyer Assistance Program
• Madison’s Home-Buy the American Dream Program
• Brown County’s First Time Home-buyer Program

Check with your local housing authority or municipality website to find out what’s available in your area.

3. Federal Programs Available in Wisconsin

In addition to state and local options, first-time buyers can also take advantage of national programs, including:

• FHA Loans: Backed by the Federal Housing Administration, these loans offer lower credit score requirements and down payments as low as 3.5%.
• USDA Loans: Available in rural areas of Wisconsin, these loans offer zero down payment options and low interest rates.
• VA Loans: For qualified veterans and active-duty military members, offering zero down and competitive terms.

4. Home Buyer Education Courses

Education is key when making such a major investment. Many programs (like WHEDA) require completing a certified home buyer course, which teaches:

• Budgeting and credit readiness
• Steps of the home buying process
• How to work with realtors and lenders

These courses are offered online or in person by:

• WHEDA
• HUD-approved housing counseling agencies
• Local nonprofits such as NeighborWorks

5. Working With a Realtor Who Understands First-Time Buyers

An experienced local realtor can make all the difference. From helping you find properties that fit your budget to guiding you through paperwork, inspections, and negotiations, a realtor familiar with first-time buyer programs can streamline the entire process.

Final Thoughts

Buying your first home in Wisconsin doesn’t have to be stressful. With the right resources and support, you can make informed decisions and feel confident every step of the way. Whether you’re just starting to explore your options or already getting pre-approved, take advantage of the programs designed to help you succeed.

Ready to take the next step?

Let’s talk about your goals and how I can help you find the perfect first home in Wisconsin.

 Contact me today to schedule a free consultation.

 [philhogans.realtor@gmail.com]    [414-736-4525]    [Milwaukee/All Wisconsin Area]