Wisconsin Housing and Economic Development Authority (WHEDA)
Advantage Home Improvement Loan Program (HILP)
The Advantage Home Improvement Loan Program aims to serve Wisconsin homeowners who are seeking to make improvements or need repairs to their primary residence. Some goals of this program include facilitating home improvements and repairs for Wisconsin homeowners, providing financial assistance for a variety of home improvement projects, and enhancing the quality and value of owner-occupied primary residences. 
However, there are some restrictions to this program. The property must be an owner-occupied primary residence. Property types must be single-family residences, condominiums, 2-unit properties, and double-wide manufactured homes. Borrowers will NOT be eligible if one or more of the following applies:
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Credit score less than 620
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Bankruptcy or foreclosure during current loan term
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Property is currently listed "For Sale"
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Payment of real estate taxes more than 60 days delinquent
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Current loan was modified within the last 24 months
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Additionally, total household limits apply, up to six months are provided to complete renovations or improvements, and if there is a first mortgage, it does not have to be a WHEDA loan. Also, homeowners must reside in the property they are seeking to improve or repair.
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Assistance Type: Loan
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Annual/Biennial Funding Amount: Not applicable.
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Application Cycle: Continuous.
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Min./Max Award: Loan amounts between $10,000 to $50,000 are available, with up to $500 in closing cost credit provided by WHEDA. The loan amount can go up to 125% of the combined loan-to-value. Closing costs can be financed into the loan if allowable.
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Contact and/or Application Link: Please reach out to HILP certified lenders listed on the program website.
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Below attached to the button is the link for more information regarding this program from the WHEDA website. Follow this link to learn more.​​
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Advantage Conventional HomeStyle Renovation
The goals of this program include providing financing for home purchase and renovation through a single mortgage, facilitating renovation of properties to improve their condition and value, and assisting eligible borrowers in achieving homeownership while renovating a property to meet their needs. Borrowers must meet all applicable parameters of the WHEDA Advantage Conventional First Mortgage Program which may be found on the program website.
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Assistance Type: Loan
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Application Cycle: Continuous
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Min./Max Award: This program has up to 100% available financing for eligible borrowers, property types, and costs when used in conjunction with a WHEDA down payment assistance loan. ​​
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Contact and/or Application Link: View an up-to-date list of WHEDA certified HomeStyle® Renovation lenders on the program website.
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Below attached to the button is the link for more information regarding this program from the WHEDA website. Follow this link to learn more.​​
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Housing Tax Credit (HTC)
WHEDA’s federal and state housing tax credit programs expand access to affordable housing, drive economic development and extend the reach of community services. The plan encourages participation by developers from underserved communities, provides greater consideration for the unique needs of our rural communities and promotes sustainability. The plan is designed to support efficient development of quality, safe, affordable housing where it is needed most. The Qualified Allocation Plan governs projects that use the Federal 9% Credit, Federal 4% Credit, and the State of Wisconsin Housing Tax Credit as outlined in this Plan.
The Housing Tax Credit, or HTC, is a dollar-for-dollar reduction of federal income taxes owed by owners/investors in qualified projects for tenants whose incomes are at or below 60% of County Median Income (CMI). Applicants must meet mandatory threshold requirements for financing, market, site control, and zoning. Applications are then evaluated, and points are awarded for select criteria as outlined in WHEDA's current Qualified Allocation Plan. As a threshold for eligibility, HTC developments must remain affordable for a 30-year period. Developments must also meet one of two thresholds for occupancy: At least 20% of all units in a development must be reserved for households at or below 50% of the area median income, or at least 40% of all units must be reserved for households at or below 60% of the area median income.
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Assistance Type: Tax Credit
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Annual/Biennial Funding Amount: The Federal government allocates HTCs to each state according to a population-based formula. At the state level, Housing Credit Agencies administer the HTCs to owners of housing developments according to their state Qualified Allocation Plan, which must meet Federal guidelines. Allocations for the current and previous years as well project milestones may be found here
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Application Cycle: Annual project milestones may be found here
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Contact and/or Application Link: HTC.FAQ@wheda.com
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Examples of Successful Implementation: 2021, Gorman & Co. Pulaski, WI Printery Row, 43 units.
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Below attached to the button is the link for more information regarding this program from the WHEDA website. Follow this link to learn more.​
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Down Payment Assistance (DPA) Program
The Down Payment Assistance (DPA) Program supports affordable homeownership by reducing the financial burden of down payments by providing down payment assistance to help eligible homebuyers. Some opportunities provided by this program include the WHEDA Easy Close DPA (Conventional), the WHEDA Capital Access DPA (Conventional), the WHEDA Easy Close DPA (FHA), and the WHEDA Capital Access DPA (FHA). 
Restrictions include Total Household Compliance Income limits based on the WHEDA first mortgage. Separate Total Household Compliance Income Limits may apply. WHEDA DPA programs can be used with WHEDA first mortgage programs.
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Assistance Type: Loan
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Annual/Biennial Funding Amount: Not applicable.
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Application Cycle: Continuous
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Min./Max Award: It offers options for 100% financing in conjunction with WHEDA first mortgage programs. Moreover, specific requirements can apply for secondary financing, which must meet Fannie Mae (Conventional) or HUD (FHA) requirements, and there is a Maximum High Combined Loan-to-Value (HCLTV) of 105%. Terms of the loan will depend on the type of DPA program used. Please see program website for more information.
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Contact and/or Application Link: Contact an approved WHEDA lender through the WHEDA website.
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Below attached to the button is the link for more information regarding this program from the WHEDA website. Follow this link to learn more.​
Workforce Housing Revolving
Loan Programs
WHEDA's Workforce Housing Revolving Loan Programs aim to provide affordable housing options for Wisconsin's workforce. These programs offer low-interest loans to developers and property owners build or renovate rental housing units for low- to moderate-income families The purpose of these programs is to increase availability of affordable housing options for Wisconsin's workforce