The WHEDA Easy Close DPA program is a trusted down payment and closing cost assistance option offered by the Wisconsin Housing and Economic Development Authority (WHEDA). It helps qualified buyers access homeownership through a low-interest second mortgage designed to make upfront costs more affordable.
❓ What Is WHEDA Easy Close DPA?
WHEDA’s Easy Close DPA provides a second mortgage loan of $1,000 to $15,000 to help cover your down payment and closing costs. This second loan must be used in combination with a WHEDA first mortgage.
The Easy Close DPA loan:
- 💵 Has a fixed interest rate
- 📉 Offers 10-year amortized repayment terms
- 📅 Begins repayment immediately after closing
It’s a popular option for first-time and repeat homebuyers across Wisconsin.
✅ Who Is Eligible for WHEDA Easy Close?
You may qualify for the WHEDA Easy Close DPA if you:
- 👨👩👧👦 Are a first-time or repeat homebuyer
- 🏠 Purchase a home in Wisconsin as your primary residence
- 📉 Meet income and purchase price limits set by WHEDA
- 📘 Complete a homebuyer education course
- 💼 Use a WHEDA-approved lender
💵 Program Benefits
- 💲 Assistance from $1,000 to $15,000
- 📈 Fixed low interest rate based on your WHEDA first mortgage
- 📆 10-year term with predictable monthly payments
- 🔗 Can be used with WHEDA FHA, VA, USDA, and conventional loans
📈 Why Use Easy Close in Wisconsin?
Although Wisconsin home prices remain relatively affordable, rising costs in cities like Madison, Milwaukee, and Green Bay make it difficult for many families to save enough for a down payment.
The WHEDA Easy Close DPA program bridges this gap by offering flexible and affordable financing that helps buyers move into homes sooner—without sacrificing long-term affordability.
📝 How to Apply for WHEDA Easy Close DPA
- 📞 Contact a WHEDA-approved lender
- 🧾 Apply for a WHEDA mortgage (FHA, VA, USDA, or conventional)
- 🎓 Complete a homebuyer education course (online or in person)
- 📂 Submit documents: ID, income, tax returns, bank statements
- 🏠 Close on your loan and receive Easy Close DPA funds at settlement
📋 Program Requirements Summary
- 📊 Credit score: typically 620+ (depending on loan type)
- 📝 Must meet WHEDA income and purchase limits
- 📍 Property must be in Wisconsin and owner-occupied
- 📘 Homebuyer education required
🔁 Easy Close vs. Other WHEDA DPA Programs
WHEDA also offers a Capital Access DPA program for deeper assistance, but Easy Close is the most widely available. Easy Close is:
- ✔ Open to more buyers regardless of income tier
- ✔ Easier to qualify for
- ✔ Compatible with nearly all WHEDA mortgage products
💡 Tips to Strengthen Your Application
- 📋 Choose a lender with WHEDA program experience
- 📆 Take your education course early to avoid delays
- 🧾 Prepare financial documents ahead of time
- 📞 Ask about combining Easy Close with 💵 local municipal DPA programs
🔍 Real Buyer Story
Elena, a public health nurse in Milwaukee, had a stable job but limited savings. She qualified for a WHEDA FHA loan and used the Easy Close DPA to receive $8,000 for down payment and fees. Her second loan had a fixed 10-year term and was easily built into her budget.
❓ FAQs – WHEDA Easy Close DPA
📌 Is the assistance a grant?
No. Easy Close DPA is a loan that must be repaid. It has a low, fixed interest rate and begins repayment immediately after closing.
🔗 Can I use this with other assistance programs?
Yes. WHEDA allows combination with employer incentives, city/county DPA programs, and federal assistance—if permitted by all parties.
📊 What are the income limits?
Income limits vary by county and household size. For example, in Dane County, a household of 2 must typically earn under ~$109,000. Your lender will confirm the latest thresholds.
🏠 What homes qualify?
Single-family homes, condos, townhomes, and manufactured homes may qualify. The home must be within Wisconsin and be your primary residence.
🎯 Is WHEDA Easy Close Right for You?
If you need a little extra help covering the upfront costs of buying a home in Wisconsin, the WHEDA Easy Close DPA is one of the most reliable and affordable options available. With low rates, flexible eligibility, and solid support from a state agency, it’s an excellent way to move forward on your homeownership journey.
📥 Apply Now via WHEDA Official Website
