Down Payment Assistance
Every year, down payment assistance goes unused because buyers don’t know it exists. In Wisconsin, WHEDA offers Easy Close Advantage and Capital Access Advantage second mortgages for down payment and closing costs; in Minnesota, Minnesota Housing offers deferred and monthly-payment loans. Both stack with their agency’s first mortgage programs, and some cities and nonprofits run smaller programs on top of that — Shane checks every one that could fit your file.
Is this you?
- First-time buyers (and some repeat buyers in targeted areas)
- Households within WHEDA or Minnesota Housing income limits
- Buyers who qualify on income but are short on savings
- Anyone told “come back when you’ve saved more”
Shane · Branch Sales Manager · Loan OfficerQuestions friends actually ask
How does down payment assistance work in Wisconsin and Minnesota?
Both states offer assistance as a second loan alongside your mortgage. WHEDA’s Easy Close Advantage is repaid over ten years and Capital Access Advantage carries no monthly payment for eligible lower-income buyers; Minnesota Housing offers deferred loans and monthly-payment loans. Shane handles the pairing with the right first mortgage for you.
Do I have to be a first-time buyer to get assistance?
WHEDA assistance is not limited to first-time buyers in every case, and Minnesota Housing’s Start Up program is for first-time buyers (defined as not owning in the last three years) while other programs serve repeat buyers too — Minnesota Housing’s Step Up program, for example, serves repeat buyers and refinancers who meet its limits. Income and purchase price limits apply and vary by county.
Is down payment assistance a grant or a loan?
It’s typically a loan — but often a deferred one with no monthly payment, repaid only when you sell, refinance, or pay off the first mortgage. Shane will walk you through exactly what your version costs, in plain English, before you commit.
Is there down payment assistance for first-time home buyers in Eau Claire and the Chippewa Valley?
Yes. WHEDA’s programs are available statewide, including Eau Claire, Altoona, Chippewa Falls and every township in between, and some cities and nonprofits layer smaller local programs on top. Income and purchase-price limits apply and change periodically; Shane checks your eligibility and runs the numbers before you commit.
Keep exploring
Conventional Loans
The workhorse of home financing — flexible terms, competitive costs, and down payments as low as 3% for first-time buyers.
Learn more →FHA Loans
The first-time buyer favorite — 3.5% down, friendlier credit requirements, and forgiving guidelines for real-life finances.
Learn more →VA Loans
For those who served — $0 down, no monthly mortgage insurance, and some of the strongest terms in all of lending.
Learn more →Not sure yet?
That is literally what Shane is for. One conversation, all your options side by side, zero pressure to move forward.
Applications happen on Fairway's secure site — never here.