Low- and moderate-income members of the $1.2 billion UW Credit Union now have an additional option for getting a mortgage, one which might enable them to obtain a loan underwritten and sold by the credit union.
Offered by UW in partnership with the Wisconsin Home and Economic Development Authority, the new WHEDA Fannie Mae Advantage Mortgage offers up to 100% financing on 30-year fixed rate loans for first-time home buyers.
WHEDA is a state authorized housing authority that underwrites and funds mortgages with money it generates from the sale of bonds.
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