Special Loan Programs
Wisconsin Housing and Development Authority (WHEDA)
Loans offer fixed rate mortgages with low interest rates to qualified low and moderate-income homebuyer (county availability may apply)
Michigan State Housing Development Authority (MSHDA)
Affordable mortgages for Low and moderate income homebuyers – single family program. MSHDA offers below-market fixed rate loans as well as step loan option. Special down payment assistance programs are available.
Low-cost property improvement loan – options available for owner-occupied properties and non-owner occupied rental properties.
Rural Housing Development
- Moderate Income Limits apply.
- No Down Payment Required.
- No Prepayment Penalties.
- No Private Mortgage Insurance required.
- No Limits on cash contributions.
- Can purchase an existing home or build a new home.
Reverse Mortgages
- Borrower retains ownership and occupancy of home
- Easy access to equity in home
- Tax-free equity release
- No monthly mortgage payments
- Interest is tax-deductible*
- No income qualifications
- Lender has no claim on borrower’s income to assets other than the value of the home
*consult your tax advisor
