WHEDA offering loans for vacant and foreclosed homes

The Wisconsin Housing and Economic Development Authority (WHEDA) is offering loans for Dane County foreclosed and vacant homes through its Wisconsin Neighborhood Advantage program. Program basics include:

• $1,000 minimum down payment from the borrower
• Job loss protection that will cover monthly mortgage payments in the event of involuntary unemployment
• The borrower does not need to be a first-time home buyer
• Down payment assistance is available (with some very generous terms), and for first-time home buyers the down payment assistance may be used alongside the $8,000 federal tax credit
• Grants are available for home repairs
  

We'll publish a list of local lenders who choose to participate in the program, when that list becomes available. We'll also share some tips for finding foreclosed homes in the near future.

Have a good night,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com