Veterans Affordable Loan Opportunity Rate - WHEDA

WHEDA issues first VALOR home loan under program for veterans
Qualified veterans obtain a special reduced interest rate

The Wisconsin Housing and Economic Development Authority (WHEDA) has begun issuing loans under VALOR, a new reduced home loan interest rate program for  qualified veterans. WHEDA unveiled VALOR, the Veterans Affordable Loan Opportunity Rate  (VALOR) home loan program, on Veterans Day, November 11, 2015. More loans are being  processed and are available on a first come, first served basis through WHEDA’s network of  participating lenders.    

“WHEDA is delighted to close loans to help our outstanding veterans, who have served with  honor and courage, get into homes just a few months after we announced the start of our  VALOR program, “said WHEDA Executive Director Wyman Winston. “It’s extremely  gratifying and wonderful to know our lender partners are well poised to help our hometown  heroes secure an affordable mortgage.”   

 “Our nation’s veterans have sacrificed so that all Americans can be safe and secure in our  homes and communities,” said Wisconsin Department of Veterans Affairs Secretary John A.  Scocos. “These reduced-rate, hassle-free home loans are one small way for us to give back to them, so that they may have a home for themselves and their families.”    

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    

WHEDA has $10 million available for its VALOR home loan program. To ensure 100%  utilization of program funds, a waiting list will be maintained as needed.     For more information about the VALOR home loan program and to find a participating WHEDA lender, visit www.wheda.com, click on “Homeownership & Renters”,  select “find a WHEDA Lender” and search multiple ways, or call 1-800-334-6873.

See attached flyer also.