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Mortgage Services

First-Time Homebuyer Loans

Home loans for first-time homebuyers don't have to be made using special programs. Quite often, your best option depends greatly upon your credit score, debt-to-income ratios, and available down payment, as well as the type and value of the property being purchased.

However, the following programs are available to first-time home buyers:

GRH (Guaranteed Rural Housing)

Insured by the federal government through FmHA, a GRH loan requires no down payment and long-term fixed-rate mortgages are available up to the property's appraised value. These loans were created for low and moderate income families and income limits do apply.

WHEDA (Wisconsin Housing & Economic Development Authority)

This mortgage requires a minimal down payment and offers fixed-rates which are generally lower than conventional fixed-rate mortgages. With a variety of repayment plans, the WHEDA First-Time Homebuyer program is ideal for the borrower with limited down payments and a set monthly income. For more information, check the WHEDA website.


If you are looking for more information about home buying and financing, the resource below should provide excellent information for you:

Freddie Mac's Guide to Homeownership