What mortgage programs can buyers choose from in Wisconsin?

Wisconsin offers conventional loans with a 660 credit score, a 36 percent debt ratio, and 3 percent down for first-time buyers, FHA loans with a 580 score and 3.5 percent down, VA loans providing 100 percent financing with a 620 score, and USDA loans for low to moderate-income rural buyers with a 640 score and a maximum 41 percent debt ratio.

What does WHEDA offer Wisconsin first-time homebuyers?

WHEDA provides the Advantage Conventional loan, a low interest 30-year fixed loan for buyers with a 620 credit score, and the Advantage FHA loan requiring a 640 score with 3.5 percent of your own funds. WHEDA Easy Close DPA lends up to 6 percent of the sales price for the down payment, and Capital Access DPA offers assistance with no required monthly payments.

What is the minimum down payment on a house in Wisconsin?

First-time buyers can put down as little as 3 percent with a conventional loan or 3.5 percent with an FHA loan and a 580 credit score. VA and USDA loans require nothing down for eligible borrowers, and WHEDA down payment assistance can cover up to 6 percent of the sales price, so many Wisconsin buyers bring very little of their own money.

Wisconsin (WI) Mortgage Rates

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Current mortgage rates · week of July 9, 2026

6.49% +0.06

30-year fixed

5.82% +0.03

15-year fixed

30-year fixed 15-year fixed last 52 weeks

Week	30-yr / 15-yr fixed
July 9, 2026	6.49% / 5.82%
July 2, 2026	6.43% / 5.79%
June 25, 2026	6.49% / 5.84%
June 18, 2026	6.47% / 5.81%
June 11, 2026	6.52% / 5.84%
June 4, 2026	6.48% / 5.79%
May 28, 2026	6.53% / 5.87%
May 21, 2026	6.51% / 5.85%

U.S. weekly averages — Freddie Mac Primary Mortgage Market Survey via FRED.

Wisconsin Mortgage Overview

Wisconsin has a population of 5.8 million people and an average home price of $340,000. It's an affordable area to live in and is a great place for first-time homebuyers to find their first home.

If you're thinking of living in WI, here are your top loan options.

Wisconsin conventional loans

When you think of a mortgage, you likely think of the conventional loan with a 20 percent down payment. Today, 20 percent isn't necessary. You can get a loan with 3 percent down for first-time buyers and 5 percent if you've owned a home before. You need a 660 credit score and a 36 percent debt to income ratio to qualify. Borrowers pay PMI for down payments lower than 20 percent down, but you can cancel it once you owe less than 80 percent of the home's value.

Wisconsin FHA loans

FHA loans are for borrowers with less than perfect credit. FHA loans require just a 3.5 percent down payment if you have a 580 credit score. You can also get a loan with a 500

579 credit score but with a 10 percent down payment. Mortgage insurance lasts for the loan's entire term.

Wisconsin VA loans

VA loans are for those who served our country. VA loans provide 100 percent financing. but you only need a 620 credit score. VA loans have flexible underwriting guidelines making it easy for veterans to secure a home. VA loans don't charge mortgage insurance, but you will pay an upfront fee.

Wisconsin USDA loans

USDA loans are for low to moderate-income borrowers in a rural area. If you can't get any other loan, you may be eligible. USDA loans require a 640 credit score. Borrowers may also have a max 41 percent debt ratio. You must live within the USDA boundaries, but you may be surprised to see how many areas are rural.

First-Time Homebuyer

Programs in Wisconsin

WHEDA Advantage Conventional

With a 620 credit score or higher, and proof you'll live in the home, you may get a low interest 30-year fixed loan. You can use down payment assistance, there's no requirement to use your own funds.

WHEDA Advantage FHA

With a 640 credit score or higher, and a minimum 3.5 percent of your own funds, you may get the WHEDA Advantage FHA which is a low interest rate 30-year fixed loan. If you qualify for down payment assistance, it may satisfy your 3.5 percent funds requirement.

WHEDA Easy Close DPA

You may receive up to 6 percent of the sales price in down payment assistance when you take out a WHEDA first mortgage loan too. The loan is a 10-year fixed rate loan with the same interest rate as the first mortgage.

WHEDA Capital Access DPA

You may receive the greater of 3% of the sales price or $3,050. This 30-year fixed rate mortgage has 0% and has no required monthly payments.

Wisconsin mortgage FAQ

What mortgage programs can buyers choose from in Wisconsin?: Wisconsin offers conventional loans with a 660 credit score, a 36 percent debt ratio, and 3 percent down for first-time buyers, FHA loans with a 580 score and 3.5 percent down, VA loans providing 100 percent financing with a 620 score, and USDA loans for low to moderate-income rural buyers with a 640 score and a maximum 41 percent debt ratio.
What does WHEDA offer Wisconsin first-time homebuyers?: WHEDA provides the Advantage Conventional loan, a low interest 30-year fixed loan for buyers with a 620 credit score, and the Advantage FHA loan requiring a 640 score with 3.5 percent of your own funds. WHEDA Easy Close DPA lends up to 6 percent of the sales price for the down payment, and Capital Access DPA offers assistance with no required monthly payments.
What is the minimum down payment on a house in Wisconsin?: First-time buyers can put down as little as 3 percent with a conventional loan or 3.5 percent with an FHA loan and a 580 credit score. VA and USDA loans require nothing down for eligible borrowers, and WHEDA down payment assistance can cover up to 6 percent of the sales price, so many Wisconsin buyers bring very little of their own money.

Wisconsin Mortgage Rates