Home Loan Interest Rate Program Created for Veterans
Wisconsin Housing and Economic Development Authority authorized $10 million to fund a new reduced home loan interest rate program for veterans.
Beginning November 11, the Veterans Affordable Loan Opportunity Rate home loan program will be available on a first come, first served basis through WHEDA’s network of participating lenders.
“WHEDA is thrilled to fund and administer this new program that will result in significant benefit to our veterans,” said WHEDA Executive Director Wyman Winston.
Eligibility requirements for the VALOR home loan program include:
- Must be a military veteran with an honorable discharge or release
- The property must be owner occupied for the life of the loan
- Borrowers cannot own any other residential property
- First-time home buyer requirement is waived
- Purchase price limits, income limits and other restrictions do apply
A waiting list will be maintained as needed.
To find a participating WHEDA lender, visit wheda.com.