WHEDA VALOR (Veterans Affordable Loan Opportunity Rate)
WHEDA VALOR (Veterans Affordable Loan Opportunity Rate) is a first mortgage for homebuyers in Wisconsin, administered by Wisconsin Housing and Economic Development Authority (WHEDA).
The program asks for
- The home is occupied as a primary residence
- A minimum 620 credit score
- Residency: Property must be in Wisconsin
- Must be a veteran with honorable discharge. Owner-occupied for life of loan. Cannot own other residential property.
- A home in Wisconsin
It doesn’t cover
- Purchases above the $544,232 price cap
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Where it applies
Wisconsin’s homesWisconsin’s homes, and the ones this program accepts
- 66.2% single-familysingle-family
- 4.3% townhousetownhouse
- 9.4% 2–4 units2–4 units
- 17% 5+ unitscondo & apartment buildings (5+ units)
- 3.1% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$266,500
Wisconsin median home value
57%
built before 1980
U.S. Census Bureau, ACS 2024 5-year.
How to apply
How to applyTwo steps, in this order
Contact Wisconsin Housing and Economic Development Authority (WHEDA) to reserve funds
Funds are reserved with the provider and are subject to availability.
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 homebuyer can take it to a lender or housing counselor.
Questions about this program
What is WHEDA VALOR (Veterans Affordable Loan Opportunity Rate)?
WHEDA VALOR (Veterans Affordable Loan Opportunity Rate) is a first mortgage for homebuyers in Wisconsin, administered by Wisconsin Housing and Economic Development Authority (WHEDA). A reduced-interest-rate pricing tier on WHEDA Advantage Conventional for qualified Wisconsin veterans (honorable discharge), with no VA funding fee and the FTHB requirement waived. Reduced rate for veterans. No VA funding fee. Simpler than a VA loan. FTHB waived. Pairs with WHEDA DPA. Funding comes from State.
Do you have to pay it back?
WHEDA VALOR (Veterans Affordable Loan Opportunity Rate) 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 VALOR (Veterans Affordable Loan Opportunity Rate) is open to homebuyers who will live in the home as their primary residence. The program lists a minimum credit score of 620. Residency requirement: Property must be in Wisconsin. Must be a veteran with honorable discharge. Owner-occupied for life of loan. Cannot own other residential property.
What are the income limits?
WHEDA VALOR (Veterans Affordable Loan Opportunity Rate) sets its income limit as follows: Same WHEDA FTHB/MCC/VALOR compliance income limits (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 VALOR (Veterans Affordable Loan Opportunity Rate) caps the purchase price at $544,232. Eligible property types include Single Family, Condo, 2-4 Unit, and Manufactured. New construction is eligible. Manufactured homes are eligible.
Is there eligibility for specific groups?
WHEDA VALOR (Veterans Affordable Loan Opportunity Rate) names veterans among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.
Where does it apply?
WHEDA VALOR (Veterans Affordable Loan Opportunity Rate) serves homebuyers purchasing anywhere in Wisconsin.
How do you apply?
Applications for WHEDA VALOR (Veterans Affordable Loan Opportunity Rate) go through Wisconsin Housing and Economic Development Authority (WHEDA), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Also for Wisconsin homebuyersOther programs open to Wisconsin homebuyers
- Ho-Chunk Nation Down Payment Assistance (DPA) ProgramUp to $50,000
- Downpayment Plus (DPP) / Downpayment Plus Advantage (DPP Advantage)Up to $10,000
- WHEDA Capital Access Advantage DPAUp to $7,500
Whether two programs can be combined is up to each agency. Ask before you apply.
All 72 programs for WisconsinProgram terms are set by Wisconsin Housing and Economic Development Authority (WHEDA) and can change; confirm on the official site before you apply.