WHEDA Advantage FHA

What is WHEDA Advantage FHA?

WHEDA Advantage FHA is a first mortgage for homebuyers in Wisconsin, administered by Wisconsin Housing and Economic Development Authority (WHEDA).

• WHEDA 30-year fixed FHA first mortgage (purchase only) via approved lenders; the 3.5% borrower investment can be covered by a WHEDA DPA for up to 100% financing.
• 30-yr fixed.
• FHA-insured.
• No FTHB requirement.
• 3.5% down met by WHEDA DPA.
• Up to 100% financing with DPA.
• Funding comes from State.

Do you have to pay it back?

WHEDA Advantage FHA is a first mortgage and is repaid under the terms set by Wisconsin Housing and Economic Development Authority (WHEDA).

• The assistance is recorded in 1st Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

WHEDA Advantage FHA is open to buyers who will live in the home as their primary residence.

What are the income limits?

WHEDA Advantage FHA sets its income limit as follows: Same WHEDA county limits as Conventional (non-target 1-2 person $104,800-$132,400 eff 5/18/2025).

• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

WHEDA Advantage FHA caps the purchase price at $544,232.

• Eligible property types include Single Family, 2-4 Unit, and Condo.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

WHEDA Advantage FHA serves buyers purchasing anywhere in Wisconsin.

How do you apply?

Applications for WHEDA Advantage FHA go through Wisconsin Housing and Economic Development Authority (WHEDA), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved agency, WHEDA-approved PMI provider, eHomeAmerica, or Framework.

2. 2

   Contact Wisconsin Housing and Economic Development Authority (WHEDA) to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.